2025 Carbon Footprint Report

As an international financial institution with a public mandate, the European Stability Mechanism (ESM) remains dedicated to integrating environmental, social, and governance (ESG) best practices into its operations.

This 2025 edition is the ESM’s eighth annual carbon footprint report, reaffirming its ongoing commitment to transparency in ESG reporting. It offers a detailed overview of the organisation’s operational carbon emissions for the year 2025, comparing results with those of previous years and referencing 2018 as the baseline.

Deloitte Luxembourg (Société à Responsabilité Limitée) supported the preparation of this report by performing independent reviews of the calculations and underlying assumptions, in line with the foureyes principle.

As in prior years, the carbon footprint estimates are based on a thorough analysis of both internal and external documentation, activity data, and exchanges with external data providers. The report follows the World Resources Institute International Greenhouse Gas Protocol – a Corporate Accounting and Reporting Standard. In addition, the methodology developed in the EcoAct 2020 Homeworking Emissions Whitepaper was applied again this year to provide a dedicated section on emissions related to teleworking.

To enhance transparency and accuracy, the ESM has refined several aspects of its carbon footprint methodology in this year’s report, as detailed in Chapter 2.4 Updates to reporting scope and methodology.

The ESM remains committed to publishing an annual carbon footprint report to track progress in reducing emissions. In the interest of full transparency, the report is made publicly available.