Open Finance and Carbon Neutral Banking : Leveraging Financial Transaction Data for Consumers Carbon Footprint Measurement
Bowden, James and Cummins, Mark and Tetteh, Godsway (2024) Open Finance and Carbon Neutral Banking : Leveraging Financial Transaction Data for Consumers Carbon Footprint Measurement. University of Strathclyde, Glasgow.
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Abstract
Recent industry insights show that banks still face significant constraints in measuring indirect Green House Gas (GHG) emissions owing to data limitations and a lack of harmonised methodologies. At the same time, banks and other financial institutions hold large volumes of consumer data that can be leveraged to estimate GHG emissions albeit financial transaction data are privately owned with restricted access. This paper discusses how an open finance framework can be used to aggregate consumer transaction data across multiple financial products to compute carbon footprints. It highlights a step-by-step approach to carbon footprint estimation and discusses the consideration for using microdata for emission computation.
ORCID iDs
Bowden, James ORCID: https://orcid.org/0000-0002-0419-1882, Cummins, Mark ORCID: https://orcid.org/0000-0002-3539-8843 and Tetteh, Godsway ORCID: https://orcid.org/0000-0003-0900-4633;Persistent Identifier
https://doi.org/10.17868/strath.00091082-
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Item type: Report ID code: 91082 Dates: DateEvent6 November 2024Published31 August 2024AcceptedSubjects: Social Sciences > Finance
Social Sciences > Economic TheoryDepartment: Strathclyde Business School > Accounting and Finance Depositing user: Pure Administrator Date deposited: 06 Nov 2024 11:30 Last modified: 25 Nov 2024 01:30 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/91082