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MetricFinanced, facilitated and insurance-associated emissions

Facilitated emissions

Measurement answer

What this metric measures

Facilitated emissions are the annual greenhouse-gas emissions attributed to a financial institution’s covered lead-bookrunner activity for in-scope primary capital-market transactions, calculated with the PCAF Part B attribution method and mandatory 33% weighting.

Specification

Metric specification

Result format
Single value
Unit
Metric tonnes of carbon dioxide equivalent (tCO₂e)
Reporting basis
Reporting period
Aggregation
Sum of issuer results after facilitator allocation, company-value attribution and mandatory 33% weighting
Pillar
Environmental
Topic
Financed, facilitated and insurance-associated emissions
Controlled domain
Sustainable finance
Entity type
Metric

Reporting boundary

Sold portions of in-scope primary public debt, public equity, private equity, private debt and qualifying syndicated loans facilitated by covered lead bookrunners in the reporting year. Co-managers, unsold portions, underwriting facilities, secondary markets, sovereign and agency bonds, securitized products, covered bonds, derivatives, M&A advisory and green or other known use-of-proceeds bonds are excluded in this edition.

Verified source occurrences

Framework coverage

This is one canonical metric. The bindings below show every verified framework occurrence without creating duplicate metric pages. Edition, disclosure, role, and relationship remain source-specific.

  • Adopting Disclosure

    PCAF Standards

    e8495156-6c46-46a6-b4ca-061ebf84f239
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    Third Edition, December 2025
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 178
    Open official framework source
  • Measurement Authority

    PCAF Standards

    Source evidence
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Defines Measurement
    Mapping outcome
    Direct Evidence
    Source locator
    Chapters 1 and 4 to 6, and annex
    Open official framework source
  • Measurement Authority

    PCAF Standards

    2797571d-0c38-4d0a-8c79-1aa47beaa088
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 10, paragraph preceding Table 1-1
    Open official framework source
  • Measurement Authority

    PCAF Standards

    2974142b-11f6-42d7-b07e-ff8863ebada4
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 13, “What is GHG Accounting”, final paragraph
    Open official framework source
  • Measurement Authority

    PCAF Standards

    2da69472-d15d-4dfd-8705-7fe60a198f3b
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 9; page 24
    Open official framework source
  • Measurement Authority

    PCAF Standards

    31e22638-cc6f-4c24-8fd0-0e574b2b70e4
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    Annex 2 table, page 54
    Open official framework source
  • Measurement Authority

    PCAF Standards

    3f6ba87a-fc2b-4b38-807d-6c78b04399c4
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 41, COVERAGE GASES AND UNITS bullet on expressing facilitated emissions
    Open official framework source
  • Measurement Authority

    PCAF Standards

    5e9517b3-57b4-4f23-aa0f-a5a2ee588cd0
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 33
    Open official framework source
  • Measurement Authority

    PCAF Standards

    84ff12a1-e45a-4b63-a09b-29f399446a98
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 41, ABSOLUTE EMISSIONS section and primary issuance paragraph
    Open official framework source
  • Measurement Authority

    PCAF Standards

    8c197421-a96d-46de-803d-e51f89781e93
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 38, paragraphs 1 and 2
    Open official framework source
  • Measurement Authority

    PCAF Standards

    95036873-3625-4068-8701-692ae129bc9b
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 14
    Open official framework source
  • Measurement Authority

    PCAF Standards

    b3043b2b-bed3-4f2c-9dad-3c67816a855c
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 41, Past performance paragraph
    Open official framework source
  • Measurement Authority

    PCAF Standards

    cde77e4e-2101-48f7-9164-f355756d60ce
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 18, Business Goal 2 and Business Goal 3 paragraphs
    Open official framework source
  • Measurement Authority

    PCAF Standards

    d18d7eea-a37a-49ae-a4fe-af5660beaa81
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 22, Section 4.2, Measurement
    Open official framework source
  • Measurement Authority

    PCAF Standards

    d8a89daa-4844-43f9-9742-952db54c9477
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    Annex 2 table, page 54
    Open official framework source
  • Measurement Authority

    PCAF Standards

    d8f5f8fd-0fc8-4ca8-bac8-5b3b59942bff
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 40, “REPORTING FACILITATED EMISSIONS VS FINANCED EMISSIONS”
    Open official framework source
  • Measurement Authority

    PCAF Standards

    dbee0c4a-0d4e-47c1-baa9-59afc580e78b
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 6, Introduction
    Open official framework source
  • Measurement Authority

    PCAF Standards

    df8b802e-a941-4ce6-a145-a970fdaae183
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 4, Executive Summary
    Open official framework source
  • Measurement Authority

    PCAF Standards

    e7784041-4888-4e43-a3f7-b36e2bc67753
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 29, Methodology
    Open official framework source
  • Measurement Authority

    PCAF Standards

    f90aeeca-6493-4002-b863-01219ebe362a
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 21, section 4.1, Table 4-1, Measurement
    Open official framework source
  • Measurement Authority

    PCAF Standards

    fef4032b-113a-49d0-9579-bdb7f5e49251
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    PDF page 8, “The Purpose of Reporting Facilitated Emissions of Primary Capital Market Issuance” / “How Facilitated Emissions Are Different From Financed Emissions”
    Open official framework source
  • Measurement Authority

    PCAF Standards

    ffa769f1-018d-47bc-aefc-4e8b4e608af0
    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Requirement
    Not Specified
    Relationship
    Reuses Canonical Metric
    Mapping outcome
    Reused
    Source locator
    page 53/Annex 1/Table 10
    Open official framework source

Value structure

Dimensions and units

Unit
Metric tonnes of carbon dioxide equivalent (tCO₂e)
Reporting basis
Reporting period

Unit meaning: One metric tonne of gases expressed using their carbon dioxide-equivalent warming effect.

Published dimensions

  • Mass of carbon dioxide equivalent
  • In-scope capital-market transaction type
  • Lead-bookrunner role and allocation method
  • Issuer and sector
  • Issuer-emissions scope group
  • Listed or private company-value basis
  • 33% required or additional 100% presentation

Calculation method

Formula information

Status
Specified
Formula type
Sum

Formula

FE = Σc [(A_c ÷ V_c) × 0.33 × E_c]

For each in-scope issuer transaction, divide the facilitated amount by the compatible company value, multiply by the disclosed weighting factor and annual issuer emissions, then sum non-overlapping issuer results. Part B requires W = 33%; a 100% unweighted result may be reported only as an additional, separately labelled observation.

Variables

SymbolVariableDefinitionUnit
A_cfacilitated amountTotal amount raised for issuer transaction i multiplied by the facilitator allocation or league-table credit.reporting currency
V_ccompany valueIssuer company value for transaction i: EVIC for a listed company or total equity plus debt for a private company under the source fallback rules.reporting currency
E_cannual issuer emissionsCompatible annual issuer greenhouse gas emissions for the separately identified scope group and reporting period.tCO2e

Verified sources

Evidence and status sources

Sustopedia checked each record-specific claim directly against primary publisher material. Labels distinguish current measurement authority from future compatibility and corroborative, legal, edition, or method status context. Corroborative evidence can support a stated limitation but cannot establish the core measurement by itself.

Measurement evidence

  • Measurement evidenceChecked 15 August 2026

    The Global GHG Accounting and Reporting Standard Part B: Facilitated Emissions

    Publisher
    Partnership for Carbon Accounting Financials
    Edition
    First Version, December 2023
    Locator
    Chapters 1 and 4 to 6, and annex

    Supports: Official publisher reference linked specifically to the Sustopedia metric “Facilitated emissions”; interpret it with the source-edition basis and limitations shown on this page.

    Open official source

Use with context

Interpretation boundaries

Method disclosures required

Source-edition basis: PCAF Part B, First Version, December 2023.

  • Included and excluded transaction types, roles and sold portions
  • Specific facilitated volume or league-table-credit allocation method and data source
  • EVIC or private-company total-equity-plus-debt denominator and fallback
  • Issuer Scope 1 and Scope 2, separately reported Scope 3 and data option
  • Mandatory 33% weighting, reporting period and fixed reporting date
  • Coverage, exclusions, carbon-credit treatment and separation from other PCAF accounts

Record-specific limitations

  • Facilitated emissions remain separate from financed emissions, insurance-associated emissions and the institution’s own inventory.
  • Results depend on transaction coverage, facilitator allocation, issuer emissions, company value, data option and reporting-period alignment.
  • An unweighted 100% result may only supplement, not replace, the required 33% result.

Interpret this metric with the stated reporting boundary, period convention, value shape, and unit. Results prepared with different boundaries or conventions may not be directly comparable.

Measurement evidence supports the core record-specific claims described above. Corroborative evidence can support limitations, while compatibility and status sources provide their separately labelled context. None of these cards by itself determines an organisation's legal applicability, filing readiness, assurance status, or compliance conclusion.