Last updated: 26.03.2024

<aside> 💡 High-Level Description:

As global concerns over environmental sustainability have grown, the spotlight has increasingly turned to the carbon footprint of various sectors. The expenditure sector, with its vast reach and implications, is no exception. While traditionally focused on financial tracking and analytics, the necessity to embed environmental considerations has led to innovative methodologies like the OfnK by Open Standard.

The OfnK methodology not only captures the financial aspects of expenditure but also delves deep into the environmental consequences, particularly carbon emissions associated with spending. Introduced by Open Standard, this methodology calculates the carbon impact of each monetary transaction, rendering the otherwise abstract concept of carbon footprints into tangible figures tied to financial activities. By adopting this holistic approach, the OfnK methodology has facilitated businesses, governments, and individuals in making eco-conscious choices, not just based on cost but also on environmental impact.

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Equation

co2_in_g = price_in_euros * co2_in_g_per_euro

Factors considered by methodology:

• Merchant category
• MCC
• Price

SQUAKE additions:

• Merchant name
• Currency

API request

{
  "expand": [
    "items"
  ],
  "items": [
    {
      "type": "expenditure",
      "methodology": "OFNK",
      "external_reference": "string",
      "merchant_category": "local_public_transport",
      "merchant_category_code": 4111,
      "merchant_name": "BVG",
      "currency": "EUR",
      "price_in_cents": 200
    }
  ]
}

Bibliography