We want to be transparent about our Climate footprint as a company

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Climate Disclosure 
Full Year 2021

Climate change is one of the most pressing long-term issues of our time, and it sets the boundaries for all other challenges and megatrends ahead. Greenhouse gas emissions have increased dramatically in recent decades and are still increasing globally. Consequently, our earth is heating up — fast…resulting in catastrophic consequences for our planet and people. Therefore, in Paris, in December 2015, world leaders agreed that all countries must act together to limit global warming to 1.5 degrees or at least stay well below 2 degrees. To limit global warming, global greenhouse gas emissions must be cut in half by 2030. 

Doconomy is working towards that goal and, through our products, enables positive climate impact. With that said, our ambition to measure, understand, and reduce applies to ourselves and our own operations as well. This climate disclosure is the result of that.

In this climate disclosure, you can read about the emissions due to Doconomy’s operations, indicators we are addressing, and potential targets. The favorable climate impact we potentially enable through our products is not part of this disclosure.

1. The Greenhouse Gas Protocol 

Doconomy’s Climate Disclosure has been conducted in accordance with the Greenhouse Gas (GHG) Protocol, the world’s most widely used greenhouse gas accounting standard for companies and organizations. According to the GHG Protocol, emissions are divided into three scopes. Scope 1 covers the company’s direct emissions, scope 2 covers the indirect emissions from purchased energy, and scope 3 covers all other indirect emissions in the company’s value chain. Scope 3 is further divided into 15 categories; see the graphic for details.

The consolidation approach chosen for Doconomy’s calculations is the operational control approach. The selection of a consolidation approach affects which activities in the company’s value chain are categorized as direct emissions (i.e., scope 1 emissions) and indirect emissions (i.e., scope 2 and scope 3 emissions). By choosing the operational control approach, emissions from any assets Doconomy has operational control over are included in scope 1.  

Regarding scope 2, there are two calculation methods to consider: the location-based method and the market-based method. The location-based method uses average emission intensities in the grid where the consumption occurs (i.e., the average emission intensity at your location — usually
a country). On the other hand, the market-based method takes contractual agreements into account and allocates emissions thereafter. Doconomy is reporting its scope 2 emissions using the location- and market-based approaches, as per the GHG protocol standard. 

Read more about the GHG protocol, the guidance, and standards used at https://ghgprotocol.org/


2. Selection of sources

Regarding emissions intensities, Doconomy has consistently used publicly available sources from well-known organizations such as DEFRA (Department for Environment, Food and Rural Affairs, UK GOV), NTM (Network for Transport Measures), ICAO (International Civil Aviation Organisation), and AIB (Association of Issuing Bodies). For the complete list, contact Doconomy directly. The chosen sources include the greenhouse gases covered by the Kyoto Protocol, expressed as carbon dioxide equivalents (CO2e). GWP100 has been used in line with Intergovernmental Panel on Climate Change (IPCC) Fourth Assessment Report (AR4).

3. Exclusions

At the start of 2022, Doconomy conducted a materiality analysis, reviewing all emissions generated from the company’s activities. Based on this analysis, the following scope 3 areas have been excluded from Doconomys climate disclosure: 

Capital goods — not applicable to Doconomy’s operations
Processing of sold products — not applicable to Doconomy’s operations
End-of-Life treatment of sold products — not applicable to Doconomy’s operations
Franchise — not applicable to Doconomy’s operations
Transportation and Distribution — less than 1% of Doconomy’s total emissions
Leased Assets — less than 1% of Doconomy’s total emissions
Waste generated in operations — less than 2% of Doconomy’s total emissions

Regarding Transportation and Distribution, Doconomy sometimes uses delivery services for the transportation of office equipment or larger parcels. Since this is a very small post, covering less than 1% of Doconomy’s total emissions, it has been excluded in the final climate disclosure. 

Doconomy rents some of its office equipment, categorized as Leased Assets. This is also a very small post, covering less than 1% of Doconomy’s total emissions, and has therefore been excluded from the final climate disclosure. 

Waste generated in Doconomy’s operation is limited to office waste. Since Doconomy recycles to the most significant extent possible, and since the general waste goes to incineration with energy recovery, there are not many emissions connected with this category (less than 2% of Doconomy’s total emissions). Hence it is excluded from the final climate disclosure. 

During FY 2021, Doconomy sponsored the Climate Crisis Film Festival (CCFF). According to the methodology, sponsorships should be allocated a share of the sponsored project’s scope 1 and 2 emissions and included as part of the sponsor’s value chain emissions. Doconomy recognizes that a share, proportionate to the percentage of sponsoring, of CCFFs scope 1 and 2 emissions should be included in this climate disclosure. However, since no information on the CCFFs emissions was available, the share allocated to Doconomy is unknown and has therefore been omitted from Doconomy’s final climate disclosure.


1. FY 2021

The results from Doconomy’s climate calculations are presented in Table 01 and Figure 02 below. Note that all emissions are shown in tones of CO2e. 

  • Office — <1 tonne CO2e
  • Business travel — 45.7 tonne CO2e
  • Purchased goods and services — 32,2 tonne CO2e
  • Employees — 6,7 tonne CO2e
  • Use of sold product — <1 tonne CO2e



Scope breakdown

Scope 1 emissions are solely from car travels (included in scope 1 due to the operational control approach Doconomy has chosen). Included are both rental cars and car travel expenses. 

Scope 2 emissions originate from electricity and heat consumption at Doconomy’s office. Doconomy purchases 100% renewable electricity with a guarantee of origin.

Scope 3 emissions include business travel, purchased goods and services, employee commuting, and use of sold products.

  • Flights are the largest source of emissions, not only in the business travel category but also for Doconomy as a whole. Business travel also includes taxi travel, train travel, and hotel nights. 
  • Within the category of purchased goods and services, Doconomy identifies three overarching areas: electronic equipment, food, representation, and office material. Electronic equipment is mainly computers and phones for the employees. Food is coffee, fruit, milk, etc., for the office, while representation covers restaurant visits and other activities where food and beverages are purchased. Office materials are office-related equipment (in FY 2021, mainly new chairs). The results show that food and representation contribute the most emissions in this category.
  • Employee commuting includes both Doconomy employees and full-time consultants. The number of employees and consultants used is an average over the year. The fact that, due to the Covid-19 pandemic, many employees have worked from home has been taken into account. 
  • Doconomy offers digital products that help measure the climate footprint of purchases, lifestyles, and products. Since the products Doconomy sells are digital, the emissions from the use of these products are emissions associated with data storage and data transfer. Even though the emissions are small today, Doconomy has chosen to include this number as it is connected to the company’s core business and since it might grow in the future (as the use of Doconomys products increases).


2. Comparison with previous year 

Though Doconomy has not prepared public disclosures in previous years, Figure 03 shows a summary comparison of the years 2021 and 2020.

The difference in emissions between the years can be explained by:  

  • The changed scope of the emission calculations. During FY 2020, the subsections “Food and representation” and “office material” were not included.
  • The Covid-19 pandemic put restrictions on both business travel and employee commuting in 2020 than in 2021. Although business travel was limited during 2021, air travel increased significantly compared to 2020.
  • In late 2020 Doconomy changed to renewable electricity. This affected the emissions in scope 2 and explained the change over the years.
  • Change in the calculation for the number of employees affected the number of employees commuting in scope 3. The 2020 calculations used the number of employees by the end of the year; the 2021 calculations used the average number during the year.


3. Biogenic emissions

Biogenic CO2 emissions, both direct and emissions that occur in the value chain, shall not be included in the scopes but shall be reported separately. Biogenic CO2 emissions refer to emissions from the combustion or biodegradation of biomass. Doconomy has no biogenic emissions to report for FY 2021.

4. KPI

Doconomy is monitoring the KPIs presented in Figure 04. Emissions per revenue and emissions per employee represent how the emissions and the company grow. Note that this is Doconomy’s first year tracking progress in these areas and therefore no comparison with previous years is possible.

  • KPI FY 2021
    Emissions/Revenue: 2,98 tonne CO2e/MSEK
    Emissions/Employee: 3,28 tonne CO2e/Employee


1. Uncertainties

Most emissions in this climate disclosure originate from actual data (either activity data or spend data). The only category where emissions are completely estimated is employee commuting. The emissions are based on average distance, mode of transport, and work-from-home percentage found in relevant research. An employee survey to collect data on Doconomy’s employees’ actual commuting habits would be the next step to improving the results. 


2. Events and changes that have an impact on reported data

Apart from being a rapidly growing company, there are some noticeable events and changes that impacted the results. 

The Covid 19 pandemic has affected Doconomy’s operation during 2021, as it has for many other companies and organizations. The pandemic has put restrictions on business travel as well as the employees’ possibility to work from the office. In the climate disclosure, this is reflected in lower emissions in employee commuting and business travel, compared to a ”normal” year. 

Doconomy has also moved into new office spaces in Stockholm, and there was an overlap of one and a half months during 2021 where Doconomy had both the old and new offices. Both have been included in the office-related emissions in this disclosure.

Since a full materially analysis was conducted, new categories have been included in the reporting scope. Mainly a more comprehensive set of sub-categories within purchased goods and services, but also the use of sold products, which is an essential part of Doconomy’s operations. These additions have led to increased total emissions compared to last year, but also a better representation of the company’s total climate footprint. 



3. Progress towards targets

Doconomy is currently exploring the possibility of an overarching emission target for the company’s operations, as well as activities that have the potential to decrease the company’s largest sources of emissions. Doconomy intends to commit to the Science Based Targets initiative and set a science-based target.


4. Purchase of carbon credits

While recognizing the importance of lowering the yearly emissions, Doconomy also purchases carbon credits corresponding to the total carbon footprint associated with its operation each year. In this decision two separate dimensions are considered; the absolute number of tonnes emitted and the social cost of carbon (SCC) that the emissions correspond to. The social cost of carbon is currently fixed at 132 USD / tonne CO2e according to Doconomy’s Åland Index. The purchase of carbon credits follows Doconomy’s Carbon Offsetting Policy and is carried out in two steps:

  1. The total of Doconomy’s carbon footprint in tonnes is offset through the purchase of registered carbon credits from projects that are already certified by the most established and well-recognized conventional offsetting standards.
  2. As Doconomy uses the SCC to calculate the societal cost of the company’s climate footprint, the market price of the conventional carbon credits is usually much lower per tonne, and a residual remains after the purchase. This amount is then used to invest in new, frontier carbon removal projects. By this approach, Doconomy can channel additional capital into the development of much-needed solutions that require investments to scale. 


For additional information on Doconomy’s Carbon Offsetting Policy please contact Doconomy directly or Helena Kernell, Head of Impact at helena.kernell@doconomy.com.


Impact areas