How do you handle currency conversions?

At Coolset, we take a thoughtful and consistent approach to currency conversion to ensure your emissions data stays accurate, no matter the currency involved.

1. Emission factors from different currencies

When emission factors (EFs) are published in various currencies (e.g., EUR, GBP, USD), we convert them using the exchange rate valid on the publication date. This ensures the values remain accurate and time-appropriate, reflecting the real-world cost and impact at the time the data was released.

2. Spend-based data in foreign currencies

For your own financial data (i.e., spend-based inputs) reported in currencies other than your local one, we use the average exchange rate over the entire year. This smooths out short-term spikes or drops in currency value, giving a more balanced and realistic reflection of your spending and emissions over time.

Why this matters

By using date-specific and annual average exchange rates:

• Your emissions calculations remain consistent and fair.

• You avoid distortions caused by short-term currency fluctuations.

• The data stays aligned with real-world economic trends.

This method helps ensure your carbon footprint analysis is as precise and dependable as possible.