Location-versus market-based calculations of Scope 2 emissions (million metric tonnes CO2e)

January 28, 2026

The use of emissions credits obtained via power-purchase agreements has enabled hyper-scalers to lower the overwhelming share of their reported emissions from purchased energy (Scope 2). That could change: A pending proposal by the Greenhouse Gas Protocol would tie Scope 2 reporting more tightly to the times and locations where the company’s energy consumption occurs, with significant implications for companies’ carbon footprints.

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Source: MSCI Sustainability & Climate Research, based on company-reported data as of Dec. 31, 2024.