A clear overview of your footprint

You’ve no doubt heard about the CO2 or carbon footprint and that we all need to reduce it. But what exactly does that mean? Why is it so important? And why should we be concerned with it at all? Understanding your carbon footprint can help you make more sustainable choices in your daily life.

Some 60% to 70% of the world’s CO2 emissions today are directly or indirectly related to household consumption. So collectively we can make a big difference in combating climate change. A good place to start is to calculate your own carbon footprint.

To calculate the carbon footprint of your purchases, our partner Connect Earth uses emission factors specific to the category of your purchase and the country where you made your purchase. Connect Earth multiplies the amount of your purchase by the emission factor determined for the category of your purchase.

Calculation example:

• If every euro spent on groceries in Belgium corresponds to 0.3 kg of CO₂
• And you spend 20 euros in a supermarket
• We increase your footprint by 6 kg of CO₂ (0.3 x 20)

This calculation method is commonly used in the industrial sector and the academic world. We do note that the outcome of the calculation is still just an estimate of your carbon footprint. For example, if you were to spend the same 20 euros at a bakery, the carbon footprint would be 4 kg of CO2 (and not 6 kg of CO2).

While the categorisation of retailers ensures that your estimated footprint is calculated as accurately as possible, we need to point out that, since we don’t know exactly what items you purchased, the CO2 figures given in the app are only estimates.

Some examples

1. Groceries: When you buy something in a supermarket, the estimate is based on the carbon impact of an average shopping basket in the country where you made your purchase. Aspects factored into this carbon impact include production, packaging and transportation. This data allows us to estimate your footprint based on your spending, without needing detailed information on every item you purchased.
2. Filling station: When you refuel your car, we know exactly how much fuel you purchased, allowing us to accurately calculate the corresponding footprint.
3. General retailers: When you shop at general online retailers like Amazon, which sell many different items, the estimate will again be based on an average shopping basket, and your carbon footprint will therefore again be a rough estimate.

In short, Connect Earth can accurately estimate the CO2 emissions of certain purchases – for example, your energy consumption or purchases made at a filling station. Estimates for other expenses, like groceries, are less accurate. These aspects combined provide you with valuable insights into your carbon impact. Good to know: you can further refine these insights by adding your own information.

The estimates in the app give a general idea of your purchases’ carbon impact. Connect Earth can accurately estimate the carbon impact of certain purchases, such as your energy consumption or your mobility expenses (for example, purchases at a filling station). Estimates for other expenses, like groceries, are less accurate.

The accuracy of the estimates depends on the quality of the underlying data and the completeness of sector averages. While most users find the estimates enough to gain a better understanding of their carbon impact, the estimates should be regarded as well-founded rather than accurate.

Connect Earth is a leading company specialising in environmental data tools that works with banks that want to offer their customers insights into their carbon footprint. Connect Earth uses methods that are also used in the industrial sector and the academic world.

KBC is also continuously making efforts to reduce its CO2 footprint and, more generally, to minimise its negative impact and maximise its positive impact on society. Find out how we’re going about it here.

As a bank-insurer, we don’t just offer companies financial solutions, we also accompany you on your journey by providing guidance, acting as a sounding board and putting you in touch with specialists. KBC has selected some solid partners who will work with you to turn your company’s sustainability challenges into actions and opportunities. Learn more.

By the way, did you know that we also offer insights into your company’s carbon footprint in the KBC Business Dashboard? Read all about it on this web page.