# What should a holding company with no operations report as its carbon footprint?

Canonical: https://senseible.earth/answers/holding-company-carbon-footprint-scope-3

Its own office is small. Under the control approach, subsidiaries it controls are consolidated into its Scope 1 and 2. Stakes it does not control fall in Scope 3 Category 15, investments, in proportion to its share.

## Steps

- Pick a consolidation approach and apply it to every entity.
- Controlled subsidiaries: their Scope 1 and 2 roll up.
- Minority stakes: Category 15 by equity share.
- The holding company's own office power and travel.

## Disclose

List which entities are in, which are in Category 15, and the approach used.

## What Senseible does here

Senseible reads bills, fuel invoices and production records into dated, fingerprinted records, so the figure you send a buyer can be traced to its documents.

- [Operational control vs equity share](https://senseible.earth/answers/operational-control-vs-equity-share)
- [Joint venture stake](https://senseible.earth/answers/equity-stake-in-joint-venture-scope-3)

Sources: [GHG Protocol Corporate Standard](https://ghgprotocol.org/corporate-standard), [GHG Protocol Corporate Value Chain (Scope 3) Standard](https://ghgprotocol.org/corporate-value-chain-scope-3-standard)

Last reviewed 2026-10-22.