The decarbonisation of the economy is a major challenge and its execution is not being carried out at the necessary pace. The study by the consulting firm PWC "Net Zero Economy Index" of 2024 reveals that the reduction in carbon intensity has stagnated at its lowest level in a decade. The data indicate that in order to limit global warming to 1.5ºC, decarbonisation must be accelerated at a rate 20 times higher than today.

To try to achieve decarbonisation goals, companies and entities have a crucial role, which must start by measuring the carbon footprint. Business processes emit greenhouse gases (GHG) and in order for companies to set ambitious decarbonisation targets, they need to know what level of emissions they are starting from.

In this sense, the Catalan Office for Climate Change makes a GHG emissions calculator available to companies and entities so that any organization can calculate its carbon footprint. Using data from the usual business (contracted services, kilometres travelled on business trips, materials spent in industrial processes, etc.), the tool calculates the tonnes of GHG that the company or entity has emitted during a year. In addition, companies that wish to do so can join the Voluntary Agreements programme of the Government of Catalonia to commit to the annual calculation of the footprint and the implementation of measures to reduce it. Companies that are members of the Voluntary Agreements have an advisory service that helps them resolve doubts about the calculation of their footprint.

The ICF joined the voluntary agreements in 2023 and earlier this year published its full carbon footprint for the first time, incorporating financed emissions. For financial institutions, the calculation of the footprint is particularly complicated, because the financed emissions are in fact the emissions of the companies that have received the financing. To this end, the ICF has followed the methodology of the Partnership for Carbon Accounting Financials (PCAF), which the entity also joined at the beginning of the year. Following this methodology, it has been seen that 99.99% of the ICF's issuances are financed issuances. That is why it is especially important for the public promotion banks of Catalonia that companies that are customers calculate and communicate their annual carbon footprint.

To decarbonise the economy, beyond calculating their carbon footprint, companies must also implement projects that allow them to reduce GHG emissions. In this sense, the ICF has financing available for projects that help companies reduce their impact: installation of energy self-generation systems, improvements in the energy efficiency of buildings, replacement of fleets of combustion vehicles with electric vehicles, etc.

If you have a sustainable project, do not hesitate to contact the ICF to explain it to us and look for the best financing option.