Overview
This article guides users through the Insurance module's data collection process. It covers what data needs to be gathered (insured-associated emissions for commercial insurance and personal motor vehicles), how to upload it using Greenly's bulk import template, and how to handle frequent formatting errors.
Key benefits / use cases
Accurately calculate your company's Insurance-Associated Emissions (Scope 3.15)
Understand which data fields are mandatory vs. optional to avoid blocking your analysis
Avoid common formatting mistakes that delay processing
Submit data for analyst review with full traceability
1. What data should be included in your data collection file?
The Insurance module is designed to assess greenhouse gas (GHG) emissions generated by your insurance lines, referred to as Insurance-Associated Emissions (Scope 3.15). These represent the GHG emissions associated with your insurance portfolios and are often the largest source of emissions impact for financial institutions.
The temporal scope of the study is the financial year of your GHG report.
⚠️ Data provided must be in French 🇫🇷 or English 🇬🇧 to be processed by Greenly.
You can find the data collection file by clicking on the module > Tab "2. Data collection">"Bulk import - via template".
The data collection file contains two types of data:
Mandatory data: The minimum data required to calculate CO2e emissions. Without it, no emissions can be computed.
Optional data: Additional data that increases the quality and granularity of the analysis.
This module covers different types of insurance: Commercial Lines or Personal Motor Lines.
Within Commercial lines these insurance types are covered:Property (e.g., fire, multi-peril)
Liability/Casualty (e.g., General Liability, Product Liability, Product Recall, Environmental Liability)
Commercial motor (all lines)
Marine (liability and hull)
Aviation (liability and hull)
Agriculture (excluding government schemes, arrangements)
Trade credit (insurance of credit risk for sold goods) and political risk – primary insurance only
All other engineering lines (e.g., machinery breakdown and electronic equipment)
Other/Special lines (e.g., Financial Lines [e.g., Professional Indemnity, D& O], workers compensation)
Statutory lines of business
If your insurance product are from another type, you should refer to your Climate Expert that will guide you to another adapted module.
Commercial insurance — Mandatory fields
Company name
Insurance effective date
Re/Insurance premium
Customer revenue + unit
Insured company's emissions, estimated via one of:
Result of latest GHG assessment, or
If not available: NACE code, country of operation, and revenue of the company
Financed emissions are calculated using this core formula:
Insured Emissions = Attribution Factor × Emissions of Company
Here's how each component works:Attribution Factor: This represents your share of the annual emissions of the customer. It's calculated by dividing your re/insurance premium for that customer by the revenues generated by the customer. It must be inferior to 1.
Emissions of the Company: These can be determined through several methods, in order of precision:
Using the company's verified GHG assessment
Using the company's unverified GHG assessment
Estimating based on the company's physical activity data collected from the insured company
Estimating based on the company's revenue, sector, and country using EXIOBASE coefficients. For estimation using EXIOBASE, the calculation takes into account both direct emissions within the sector and indirect emissions from upstream sectors, including those occurring abroad.
Personal motor vehicle — Mandatory fields
Insurance line reference
Insurance effective date
Type of vehicle
Fuel type
Location
Vehicle's emissions, estimated via one of:
Actual fuel consumption + unit, or- If not available: annual distance travelled + vehicle fuel efficiency,or
If neither is available: an average will be used
Financed emissions are calculated using this core formula:
Insured Emissions = Attribution Factor × Emissions of Vehicle
Here's how each component works:Attribution Factor: This represents your ownership share of the vehicle’s emissions as an enabler. It's calculated by dividing your re/insurance premium for that customer by the vehicle value. It must be inferior to 1.
Emissions of the vehicle: These can be determined through several methods, in order of precision:
Using the vehicle’s actual emissions
Estimating based on the vehicle’s actual fuel/energy consumed and distance travelled
Estimating based on the vehicle’s model, year, engine type and city using averages and local/regional statistical data
The methodology follows the Partnership for Carbon Accounting Financials (PCAF) standard, which has been validated by the GHG Protocol.
Personal motor vehicle — Optional fields
Insurance total premium
Total cost of ownership (TCO) associated with the vehicle
2. How to upload your data to the Greenly platform?
To upload your data, click on the corresponding task on the Progress page, or navigate to Data > Data Collection > Insurance module.
Click "Bulk import" to download Greenly's template. The template downloads in your platform language. Fill the English template with English data and the French template with French data. You can download the other language version from the READ ME tab of the template.
Import your file in the "Upload file" section. You can also attach supporting documents for traceability and auditability in the**"File Information (optional)"** section.Once uploaded, click "Submit for analysis". A Greenly analyst will review the data and complete the module.
If you do not have the necessary information to complete this module, click "Skip" at the top right of the page.
3. Frequent errors in data format
The attribution factor must be less than 1
Dates must follow the format: dd/mm/yyyy
Make sure to fill all mandatory fields flagged with an asterisk (*)
4. Review your data and read your results
Once you reviewed your data, you can flag expenses related to this module to avoid double counting and access your results. Read the related article: Review your data and check double counting.
The Results page offers a clear and detailed view of the financed emissions by sector, portfolio, and other insightful analytics.
You can check the calculation methodology details for each asset, by going to the Data Upload page and click on the Methodology button:
Formula explanation:
Quantity x EF factor x Conversion factor= Financed emissions Quantity: quantity which is the outstanding amount of investment EF factor: Financed emissions / Outstanding amount Conversion factor: A conversion factor is a numerical value, typically expressed as a ratio or fraction, used to convert a quantity from one unit of measurement to another.Financed emissions
If you would like to check the EF selected based on the NACE code and country of operation, please ask your climate expert.