Carbon Inventory Report:

Sharesies Group Ltd

Period: 2021 Calendar Year

Unverified Inventory

Date: 13.07.2022

Authored by: Kent Barrett Reviewed by: May Chang

ekos.co.nz | [email protected]
Contents

1 Summary ____________________________________________________________ 3
1.1 Organisational Information______________________________________________ 3
2 Background _________________________________________________________ 3
2.2.1 Statement of intent____________________________________________________________ 3
2.1 Communication and dissemination _____________________________________ 3
2.2 Verification and Compliance with Standard _____________________________ 3
3 Reporting methodology and compliance standards ___________________ 4
3.1 Methodology __________________________________________________________ 4
3.2 Data Collection ________________________________________________________ 4
3.3 Consolidation approach________________________________________________ 4
3.4 Base year recalculation policy __________________________________________ 5
3.5 GHG information management and monitoring policy ___________________ 5
4 Organisational boundary _____________________________________________ 5
5 Reporting boundary __________________________________________________ 6
6 Greenhouse Gas (GHG) Inventory ____________________________________ 8
6.1 Sharesies Group Ltd GHG Summary _____________________________________ 8
6.2 Emissions by activity ___________________________________________________ 10
6.3 Scope one emissions by gas type ______________________________________ 11
6.4 Other Emissions ________________________________________________________ 11
6.4.1 Fugitive Emissions (refrigerants) _____________________________________________ 11
6.4.2 Combustion of Biomass ____________________________________________________ 11
6.4.3 Land Use and Land Use Change ____________________________________________ 11
6.4.4 Pre-verified data ___________________________________________________________ 11
7 Uncertainty and Data Quality ________________________________________ 11
8 Emissions Performance against previous years ________________________ 14
9 Emissions Reduction Recommendations ______________________________ 17
10 Double Counting and Pre-offsets ___________________________________ 17
11 Offsets and Certification ___________________________________________ 18
12 Glossary __________________________________________________________ 19
Appendix 1: Emission Factors ____________________________________________ 20

Page 2 of 20
1 Summary
This carbon inventory was prepared for Sharesies Group Ltd for the 2021 Calendar Year. It
is the second annual greenhouse gas (GHG) emissions inventory, prepared for Sharesies
Group Ltd. It was prepared in accordance with the requirements of ISO 14064-1 (2018) and
covers the period between 01.01.2021 – 31.12.2021.
This inventory is for the 2021 Calendar Year. The base year period is the 2020 calendar year
for Sharesies Group Ltd. In subsequent inventories, comparisons will be made to this base
year.

1.1 Organisational Information

Sharesies is an investment platform, whose purpose is to create the most financially
empowered generation.

2 Background
2.2.1 Statement of intent

Sharesies Group Ltd has provided the following statement of intent:

“To inform our reduction targets, identify areas for improvement, to input to our BCorp
assessment and to offset where necessary.”

2.1 Communication and dissemination

This inventory was prepared as a management tool for Sharesies Group Ltd to:
• Assist it in managing its response to climate change and its reduction of GHG
emissions.
• Be a communication tool that demonstrates to stakeholders that Sharesies Group Ltd
has identified its emissions profile, is aware of the significant issues related to
climate change and is taking action to mitigate these issues, including offsetting
unavoidable emissions.
The users of this report will include, but are not limited to, the staff, manager and Board of
Sharesies Group Ltd, its shareholders and members. The summary of this inventory will be
made available to all stakeholders on request.

2.2 Verification and Compliance with Standard

This inventory is consistent with the International Standards Organisation's process for
calculating and reporting GHG emissions 14064-1 (2018). This measurement was externally
reviewed by McHugh & Shaw Ltd as being consistent with the ISO 14064-1 standard for
measurement. Whilst this is the case, it should be noted that this measurement is an
unverified inventory and that no verification audit has been conducted of the findings.

Page 3 of 20
3 Reporting methodology and compliance standards
3.1 Methodology
This GHG inventory was prepared to be consistent with the international Standards for
calculating GHG emissions. These Standards are the World Resource Institute's
"Greenhouse gas protocol, a corporate accounting and reporting standard (GHG protocol)
and "ISO 14064-1 (2018) Specification with guidance at the organisation level for
quantification and reporting of GHG emissions and removals" (ISO 145064-1 (2018)). In
measuring this inventory, the five principles of ISO 14064-1 (2018) were strictly applied.
The methodology used in measuring Sharesies Group Ltd ‘s organisational GHG inventory
is illustrated in the following diagram:

Figure 1: ISO 14064-1 (2018) Methodology for Measuring a GHG Inventory

3.2 Data Collection

Data was collected by Sharesies Group Ltd staff with guidance where required from Ekos.
The table below provides an overview of the data collected for each emission source. All
emissions were calculated using an Ekos-developed calculator. The calculation method used
to quantify emissions was the activity data multiplied by the appropriate emission factor:
Tonnes CO2e = Total GHG activity x appropriate emission factor
GHG emission factors were generally sourced from New Zealand's Ministry for the
Environment. Where appropriate emission factors were not available, other reliable sources
such as international government agencies or published research were used, as provided in
Appendix 1.

3.3 Consolidation approach

The organisational boundary identifies which facilities or subsidiaries of Sharesies Group
Ltd are included or excluded from the carbon inventory. Emissions from all aspects of the
organisation are consolidated to determine the total volume. Consolidation is done using
one of these methods:
• Control, whereby all emissions over which the organisation has either financial or
operational control are included in the inventory
• Equity share, whereby the organisation only includes emissions for the portion of the
facilities and business that the organisation owns.

Page 4 of 20
For Sharesies Group Ltd’s inventory, the operational control method has been used to
consolidate emissions. This means that all emissions over which Sharesies Group Ltd has
operational control have been included in the inventory.
Included within Sharesies Group Ltd‘s organisational boundary are therefore all emission
sources that occur within Sharesies Group Ltd’s Operations within the Wellington Office,
Auckland based co-working office and Sydney based co-working office.

3.4 Base year recalculation policy

Base year data may need to be revised when material changes occur and have an impact on
calculated emissions. When the changes are estimated to represent more than 5% of Scope 1,
2 or 3 emissions, or when there are significant changes to the organisational or reporting
boundaries or calculation methodology, Ekos’ policy is to recalculate base year data with
explanation.

3.5 GHG information management and monitoring policy

Sharesies Group Ltd is responsible for appropriate document retention, archiving and
record keeping for each emissions source. Ekos’ annual review requirement is in place to
ensure any errors and omissions in the GHG inventory report is addressed.

4 Organisational boundary
The diagram in Figure 2 below describes the organisational boundary and Table 1 outlines
the business units that are included and excluded from this inventory.

Figure 2: Sharesies Group Ltds Organisational Boundary

Page 5 of 20
Table 1: Business units included and excluded from the organisational boundary

Legal entities Business unit / Included/ Reason for exclusion

(include any Location excluded
subsidiaries)
Sharesies Group Wellington Office Included
Ltd
Auckland co- Included
working office
Sydney co- Included
working office

5 Reporting boundary
The reporting boundary identifies which emission sources are included in the carbon
inventory and which are excluded. ISO 14064-1(2018) categorises emissions as follows:
• Scope 1 – (category 1) Direct GHG emissions and removals
• Scope 2 – (category 2) Indirect GHG emissions from imported energy, heat or steam
generated elsewhere
• Scope 3 – (category 3) Indirect GHG emissions from transportation
• Scope 3 – (category 4) Indirect GHG emissions from products used by the
organisation
• Scope 3 – (category 5) Indirect GHG emissions associated with the use of products
from the organisation
• Scope 3 – (category 6) indirect GHG emissions from other sources
In compliance with the ISO Standard, Sharesies Group Ltd has measured all relevant direct
and indirect emissions shown below in this GHG inventory.
As per ISO 14064-1 clause 5.2.3, Ekos shall define its own pre-determined criteria for
significance. The following qualitative criteria for non-mandatory status have been
considered.
1. Source data likely to be difficult or expensive to obtain
2. The accuracy of the quantified emissions is likely to be poor due to the nature of the
emissions factor
3. The large amount of assumptions likely to result in unreliable emissions totals
Emissions sources included and excluded from this inventory are shown in below:
Table 2: Sharesies Group Ltds Included and Excluded Emissions Categories

Emissions category Ekos rule Include/

Source data Limited level Insignificant/
& sources Exclude/Not
difficult/ of influence de minimis
relevant
expensive to
obtain
Category 1) Direct GHG emissions and removals; (GHG Protocol scope 1)

Stationary Mandatory Include 0 0

combustion
Mobile combustion Mandatory NA

Page 6 of 20
Emissions category Ekos rule Include/ Source data Limited level Insignificant/
& sources Exclude/Not difficult/ of influence de minimis
relevant expensive to
obtain
Chemical and Mandatory NA 0
Industrial Processes
Fugitive emissions Mandatory NA

Land Use and Land Mandatory Include

Use changes
Category 2) Indirect GHG emissions from imported energy; (GHG Protocol scope 2)

Purchased Mandatory Include 0 0

Electricity
Category 3) indirect GHG emissions from transportation (GHG Protocol scope 3)

Upstream Transport Mandatory Include 0 0

and Distribution of
Goods
Business Travel Mandatory Include

Employee Mandatory Include 0 0

Commuting
Downstream Non- NA
Transport and mandatory
Distribution of Goods
Category 4) Indirect GHG emissions from products used by organization; (GHG Protocol scope 3)

Waste Generated in Mandatory Include

Operations
Fuel and Energy Mandatory Include 0 0
Related Activities (T
& D Losses)
Fuel and Energy Mandatory Include
Related Activities
(WTT emissions for
fuel)
Emissions From Non- Include
Purchased Goods mandatory
Emissions from the Non- Include
Use of Services mandatory
Capital Goods Non- Include
mandatory
Upstream Leased Non- Include
Assets mandatory
Category 5) Indirect GHG emissions associated with the use of products from the organization; (GHG
Protocol Scope 3)
Downstream Leased Mandatory NA
Assets
Processing of the Non- NA
Sold Product mandatory
Use Stage of the Non- Excluded Yes
Product mandatory
End of Life Stage of Non- NA
the Product mandatory
Franchises Non- NA
mandatory

Page 7 of 20
 Emissions category Ekos rule Include/ Source data Limited level Insignificant/
& sources Exclude/Not difficult/ of influence de minimis
relevant expensive to
obtain
Investments Non- NA
mandatory
Category 6) Indirect GHG emissions from other sources (GHG Protocol Scope 3)

List any other NA 0 0

relevant sources

6 Greenhouse Gas (GHG) Inventory

6.1 Sharesies Group Ltd GHG Summary
Sharesies Group Ltd total emissions for the 2021 Calendar Year were 249.49 tonnes of CO2e.
Table 3 below shows Sharesies Group Ltds emissions by scope and ISO category and Figure
3 shows Sharesies Group Ltds emissions by scope. The majority of emissions being
generated by Scope 3 at 71%, followed by Scope 1 at 23% and Scope 2 at 6%.
Table 3: Sharesies Group Ltds Emissions summary by scope and ISO category

Scope Emissions Category tCO2e

1 (1) Direct GHG Emissions 56.75

2 (2) Indirect GHG Emissions from Imported Energy 15.61

3 (3) Indirect GHG emissions from Transportation & Distribution 79.44

(4) Indirect GHG Emissions from Products & Services used by the 97.68
organisation

(5) Indirect GHG Emissions from the use of the Organisations 0.00
Products

(6) Indirect Emissions from Other Sources 0.00

Total Gross GHG Emissions 249.49

GHG Removals/ sinks 0.00

Purchased credits/ Pre-offset 0.00

Total Net GHG Emissions 249.49

Page 8 of 20
Figure 3: Sharesies Group Ltds emissions by scope

Table 4 below shows Sharesies Group Ltds emissions by its chosen intensity level indicators.

Table 4: Sharesies Group Ltds emissions by intensity level indicators

Emissions intensity Indicator Company Measure tCO2e

Tonnes of CO2e/Number of FTE 205 1.22

Tonnes of CO2e/Gross Revenue ($Mil) 17 14.68

Page 9 of 20
6.2 Emissions by activity
Figure 4 and Table 5 below show Sharesies Group Ltd emissions by activity.

Figure 4: Sharesies Group Ltd 2021 Calendar Year Emissions By Activity

Table 5: Sharesies Group Ltd 2021 Calendar Year Emissions by Activity (largest to smallest)

% of
Activities GHG tCO2e inventory
Natural Gas 56.75 22.7%
Staff Commuting (emissions from all sources) 35.00 14.0%
Capital Expenditure Emissions 30.16 12.1%
Domestic Air Travel - confirmed destination 21.41 8.6%
Total WTT emissions 18.47 7.4%
IT Services & Data Storage 18.30 7.3%
Domestic Air Travel - assumed destination 17.69 7.1%
Electricity (purchased) 15.61 6.3%
Staff Working from Home (electricity) 11.09 4.4%
hub Australia (Co-working space) 7.00 2.8%
Auckland co-working space 3.90 1.6%
Natural Gas T&D Loss 3.37 1.4%
Waste to Landfill (with gas recovery) 2.96 1.2%
Accommodation (New Zealand) 2.76 1.1%
Couriers - van (packages greater than 2kg and less than 25kg) 1.69 0.7%
Electricity T&D loss 1.34 0.5%
Taxi 0.81 0.3%
Purchased G & S - Electricity 0.50 0.2%

Page 10 of 20
 % of
Activities GHG tCO2e inventory
Wastewater 0.31 0.1%
Waste - composting 0.15 0.1%
Air Freight (Long haul >3700km)) 0.08 0.0%
Paper 0.07 0.0%
Purchased G & S - Electricity T&D losses 0.04 0.0%
Water Supply 0.02 0.0%
Grand Total 249.49 100.0%

6.3 Scope one emissions by gas type

ISO 14064-1 (2018) requires that scope 1 emissions are reported separately by gas type. Table
7 below shows these separated emissions for each scope 1 emissions source. The vast
majority of this is carbon dioxide.
Table 6: Sharesies Group Ltd’s 2021 Calendar Year Scope 1 Emissions by Gas Type

Gas Type tCO2e tCO2 tCH4 tN2O

Natural gas 56.75 56.60 0.12 0.03
Grand Total 56.75 56.60 0.12 0.03

6.4 Other Emissions

6.4.1 Fugitive Emissions (refrigerants)
Fugitive Emissions were not applicable to this emissions inventory.
6.4.2 Combustion of Biomass
Combustion of Biomass emissions were not applicable to this emissions inventory.

6.4.3 Land Use and Land Use Change

Land Use and Land Use Change emissions were not applicable to this emissions inventory.

6.4.4 Pre-verified data

Pre verified data was applicable to this emissions inventory. Hub Austalia, the Sydney
based co-working service provider supplied previously completed carbon emissions
measurement data. This data had been verified by Climate Active.

7 Uncertainty and Data Quality

Where accurate data is not available, it is appropriate in some situations to estimate activity
data to ensure that a comprehensive inventory measurement is completed. Estimates must
be carried out on a scientifically-derived basis.
Activity data was obtained from a range of sources, which are outlined in the table below.

Page 11 of 20
Table 7: Activity data collection – quality and source

Emissions source Scope Unit Data source Data Any assumptions made
quality
The emissions total was
calculated by Hitch. See Hitch
Report for assumptions
included. Hitch currently does
Staff commuting
not include Well to Tank
(emissions from 3 tCO2e Hitch analysis Medium
Emissions within the Staff
all sources)
Commuting emissions
calculations. The emissions
calculation provided by Hitch
is unverified.
Domestic air Credit card
Flights where Sharesies have
travel - records,
3 PKM Good confirmed the destination of
confirmed employee
travel.
destination expense claim
These are flights where
Sharesies have made an
assumption of destination
based on internal knowldge of
Credit card
Domestic air various team members
records,
travel - assumed 3 PKM Poor movements. Sharesies have
employee
destination adopted a new travel
expense claim
management system which
should vastly improve the
quality of this data in 2022
onward.
Proportional allocation of
building consumption based
Electricity Building on m2 occupation.
2 KWH Medium
(purchased) Manager Assumption that information
provided by the property
manager is accurate.
The emissions total provided
by AWS is unverified.
IT Services & AWS Carbon
3 tCO2e Medium Assumption that the emissions
Data Storage Calculator
calculation work and
reporting is true and accurate.
Hitch calculated the total
number of days worked from
home. They used the number
of days spent in the office
variable to extrapolate
average WFH days per person
(i.e. 3 days spent in office = 2
days WFH). They then adjusted
for lockdown periods where
everyone was working from
Staff working home. This gave us the
Employee
from home 3 Hitch analysis Medium estimate total number of days
per day
(electricity) WFH in a year per person. We
scaled this (using the same
method as for the total
emissions numbers) to reflect
the total organisation size to
reach the total Sharesies WFH
days above.

Limitation of this approach is

the assumption that every
respondent represents 1FTE.

Page 12 of 20
Emissions source Scope Unit Data source Data Any assumptions made
quality
Also consistent assumptions
with general calculations (i.e.
estimated sick days, annual
leave days etc.). Whilst this
data was completed
externally it is unverified data.
Floor space allocation (M2) of
hub Australia sites total operational carbon
(Co-working 3 tCO2e Supplier data Medium footprint. These emissions
space) totals have been verified
previously.
Ekos used hub Australia's
emissions/m2 total. Ekos
Auckland co- applied the m2 emissions total
3 tCO2e Estimation Poor
working space to the total m2 area
occuplied by Sharesies in the
Auckland co-working space.
Natural gas T&D
3 kWh Landlord Medium Assume national default rate
loss
Volume estimation based on
the volume of the communial
skip and the number of times it
is emptied weekly. Sharesies
contribution was then
Waste to landfill determined based on the
(with gas 3 KG Landlord Poor proportional floor space
recovery) occupied by their
organisation. This
methodology assumed that
the bin is at capcity each time
it is emptied. The total L result
was then converted to Kgs.
Some assumptions made for a
Credit card small number of expense lines
records, where the number of
Accommodation Person
3 invoices, Medium people/nights were not
<New Zealand> nights
employee provided but the spend
expense claim amount allowed for an
educated estimation.
Couriers - van Cost/tkm was determined in
(packages Ekos order to include freight as
greater than 2kg 3 TKM developed Poor significance testing indicated
and less than assumption. it could be a significant
25kg) emissions source.
Electricity T&D building
3 KWH Medium Assume national default rate
loss manager
Credit card
records, The data provided includes
Taxi 3 $ Good
employee taxis, uber and Zoomy
expense claim
% of suppliers total
consumption based on % of
suppliers total business that is
Purchased G & S
3 KWH Supplier Poor servicing Sharesies.
- Electricity
Assumption that the
information provided by the
supplier is accurate.
Applied Watercare’s proxy
Building
Wastewater 3 M3 Poor that 95% of potable water
manager
becomes Wastewater.

Page 13 of 20
 Emissions source Scope Unit Data source Data Any assumptions made
quality
Cost/tkm was determined in
Ekos order to include freight as
Air freight (Long
3 TKM developed Poor significance testing indicated
haul >3700km))
assumption. it could be a significant
emissions source.
A sample of approx 50% of the
invoices were reviewed in
detail. The spend and ratio of
black/white and colour
Fujifilm Please
Paper 3 Ream printing were then
invoices select
extrapolated across the rest of
the spend to determine
number of sheets printed
across the organisation.
Purchased G & S
% of total consumption based
- Electricity T&D 3 KWH Supplier Poor
on assumed % of business.
losses
Proportional consumption of
building consumption based
on m2 occupation.
Water supply 3 M3 Landlord Medium
Assumption that the
information provided by the
Property Manager is correct.

It is recommended that Sharesies Group Ltd works to improve the data collections processes
for any items listed above as having poor data quality or significant reliance on
assumptions. This will increase the quality of the carbon inventory report in the future.
These improvements should start as soon as possible/or as appropriate.

8 Emissions Performance against previous years

Figure 6 and Table 4 show the change in emissions between the base year measurement.
Overall, Sharesies Group Ltd’s carbon footprint increased by 99% when the 2021 calendar
year emissions measurement is compared with the 2020 calendar year (base year
measurement). Whilst this is the case, there was a 14% reduction in emissions/Full Time
Equivalent (FTE).

Over the base year there was an increase of 3982% in Natural Gas emissions, a reduction of
41% in Capital Expenditure emissions, an increase of 98% in domestic air travel emissions,
an increase of 1006% in Well to Tank (WTT) emissions, and increase of 48% in IT Services &
Data Storage emissions, an increase of 870% in Scope 2 Electrcity emissions, an increase of
136% in Staff Working from Home emissions, an increase of 3994% in Natural Gas
Transmission & Distribution Line Losses, 102% in Waste to Landfill emissions, an increase of
143% in Accomodation emissions, an increase of 867% in Electricity Transmission &
Distribution Line Losses and increase of 98% in Taxi emissions, an increase of 67% in
Purchased Goods & Services Electricity emissions, a decrease of 50% in Wastewater
emissions an increase of 43% in Purchased Goods. & Services Electricity Transmission &
Distribution Line Losses and a 55% reduction in water consumption emissions.

Page 14 of 20
Table 8: Sharesies Group Ltd Emissions by Activity Year on Year Comparison

Activities Base year Current % Change

tCO2e year against
tCO2e base year

Natural Gas
1.39 56.75 +3982%
Staff Commuting (emissions
from all sources) NA 35.00 NA
Capital Expenditure
Emissions 51.14 30.16 -41%
Domestic Air Travel
20.31 39.1 +98%
Total WTT Emissions
1.67 18.47 +1006%
IT Services & Data Storage 12.4 18.30 +48%
Electricity (purchased) 1.61 15.61 +870%
Staff Working from Home
(electricity) 4.71 11.09 +136%
hub Australia (Co-working
space) NA 7.00 NA
Auckland co-working
space NA 3.90 NA
Natural Gas T&D loss
0.0823 3.37 +3994%
Waste to landfill (with gas
recovery) 1.46 2.96 +102%
Accommodation (New
Zealand) 1.14 2.76 +143%
Couriers - van (packages
greater than 2kg and less
than 25kg) Excluded 1.69 NA
Electricity T&D loss 0.1384 1.34 +867%
Taxi
0.41 0.81 +98%
Purchased G & S - Electricity 0.3 0.50 +67%
Wastewater 0.63 0.31 -50%
Waste - composting NA 0.15 NA
Air freight (Long haul
>3700km)) Excluded 0.08 NA
Paper
NA 0.07 NA
Purchased G & S - Electricity
T&D losses
0.03 0.04 +43%
Water Supply 0.05 0.02 -55%
Shorthaul International Air
Travel 5.19 NA NA
Purchased Goods &
Services - Food & Drink 22.68 NA NA

Page 15 of 20
Figure 5: Emissions by Activity Year on Year
9 Emissions Reduction Recommendations
Ekos require participants of its programmes to undertake actions to reduce their operational
carbon emissions. These actions should be based on Sharesies Group Ltd’s emission
hotspots. These will usually be the highest emission sources. However there may be other
relevant opportunities to reduce emissions directly, or to influence the supply chain to do
the same.

Sharesies Group Ltd prepared a reduction plan with targets for short, medium and long
term. This plan detailed the specific reduction activities required, and demonstrated a top
level management commitment. Based on the results from the 2021 calendar year
measurement, Sharesies Group Ltd have proposed 6 emission-reducing initiatives.

In the short term, these initiatives include actions related to:

• Electricity emissions
• Domestic Air Travel emissions

In the medium term, these initiatives include actions related to:

• Capital Expenditure emissions

• IT Services and Data Storage emissions

In the long term, these initiatives include actions related to:

• Well to Tank emissions

• Staff commuting emissions

Sharesies Group Ltd emissions reduction will be calculated as both absolute and intensity
metrics and will be compared to the base year in future inventories.

If more detailed information on this reduction plan please request further details from
Sharesies Group Ltd as a seperate detailed reduction plan has been completed and is
available.

10 Double Counting and Pre-offsets

Double counting can sometimes occur when emissions have been included and potentially
offset in the GHG emissions inventories of two different organisations, e.g. a company and
one of its suppliers/contractors. This is particularly relevant to indirect (Scope 2 and 3)
emissions sources.

There may also be instances where an organisation uses the product or service of another
company who has already measured and offset their product/service.

The programme recognises organisation, product or services which has been identified by
the programme as having completed measurement and offset their emissions and in this
case, the double counted emissions will be reported but does not require offset.

There were instances of double counting within this inventory, and these are described
below:
Some of the product carbon footprint measurements included in the Capital Expenditure
Emissions category include ‘emissions from use’. The emissions from use of this equipment
will also being captured in the Scope 2 emissions calculation.

11 Offsets and Certification

Sharesies Group Ltd wishes to achieve Zero Carbon Business Operations.
To qualify for Zero Carbon Business Operations certification with Ekos, an organisation
must measure its business operations (carbon footprint), have a carbon reduction plan in
place and have offset 100% of direct and indirect emissions.
Sharesies Group Ltd has measured all required activity emissions, totalling 249.49 tonnes of
CO2e.
Sharesies Group Ltd has offset 100% of these emissions, totalling 250 tonnes of CO2e and has
a carbon reduction plan in place.
Sharesies Group Ltd has qualified for Zero Carbon Business Operations Certification for the
2021 Calendar Year.
The carbon offsets purchased are as follows;
Verified Emission Reduction Units (VERs) produced in the Rarakau Rainforest Conservation
Project in Southland, New Zealand. These offsets are retired in the Markit Environmental
registry.
New Zealand Carbon Units (NZUs) produced in the Hōpai Bay Native Regeneration Project
in Marlborough, New Zealand. These offsets are retired in the New Zealand Carbon
Register.
Verified Emission Reduction units (VERs) from Ekos’ Pacific Island carbon credit supply
chain. These offsets are retired on the Markit Environmental Registry.
Verified Carbon Units (VCUs) produced in the NIHT Topaiyo REDD+Project in New
Ireland Papua New Guinea. These offsets are retired on the Verra Registry.

Page 18 of 20
12 Glossary
De minimis
Certain activities contribute less than 1 percent of the total of CO2e emissions. These may be
excluded from the GHG inventory, provided that the total of excluded emissions does not
exceed a materiality threshold of 5 percent. That is, the total of all excluded emission sources
should not exceed 5 percent of the total inventory.

Greenhouse gas (GHG)

Gaseous constituent of the atmosphere, both natural and anthropogenic, that absorbs and
emits radiation at specific wavelengths within the spectrum of infrared radiation emitted by
the Earth' surface, the atmosphere and clouds. These include:
• Carbon dioxide (CO2)
• Methane (MH4)
• Nitrous oxide (N2O)
• Hydrofluorocarbons (HFCs)
• Perfluorocarbons (PFCs)
• Sulphur hexafluoride (SF6)

GHG Scopes:
• Scope 1: Direct emissions from sources owned or controlled by reporting entity. For
example diesel generator, coal heating, own vehicle fleet, agriculture
• Scope 2: Indirect emissions generated by purchased energy. For example, electricity,
gas.
• Scope 3: Indirect emissions that are a consequence of activities undertaken by the
reporting organisation or related individual, but not directly controlled by the
organisation. For example, flights, freight, non-company vehicles, waste, electricity
line distribution and transmission losses.

Page 19 of 20
Appendix 1: Emission Factors
Ekos uses emission factors provided by the New Zealand Ministry for the Environment
(MfE) publication Measuring Emissions: A Guide for Organisations 2019.Ekos emission factors
for air travel include Radiative Forcing, which helps organisations account for the wider
climate effects of aviation, including water vapour and indirect GHGs. This is an area of
active research, which seeks to express the relationship between emissions and climate
warming effects of aviation.
Ekos uses a multiplier of 1.9 to account for radiative forcing effects in line with the Ministry
for the Environment publication Measuring Emissions: A Guide for Organisations 2019.
Where emission sources are not covered by the MfE publication, Ekos identifies suitable
factors for use have been sourced from the Department for Environment and Rural Affairs
(DEFRA) , UK Government document Factors for Greenhouse Gas Reporting 2018, the Motu
institute and Aslan, J. Mayers, K. Koomey, J. France, C. 2017. Electricity Intensity of Internet
Data Transmissions, Untangling the Estimates. Journal of Industrial Ecology, Volume 22,
number 4.

Page 20 of 20