Scope 3 Category 15 includes indirect emissions from a company’s investments (known as 'financed emissions'), included via equity ownership, project financing, or debt issuance. C15 falls under the Greenhouse Gas Protocol’s Scope 3 standard, and is the final category within Scope 3. As is the nature of Scope 3 (indirect emissions beyond the reporting entity, located within their value chain), C15 is concerned only with emissions that are not already included in the Scope 1 (direct) or Scope 2 (purchased energy) inventories of the investor company. S3 C15, instead refers to the indirect, proportional Scope 1 and Scope 2 emissions of those portfolio companies, that become attributable to the investor via this category. Within the context of EACs (market-based Scope 2 instruments); if a portfolio company uses and retires EACs and reflects them in its market-based reporting, its reported Scope 2 emissions fall, and because Category 15 uses those reported emissions data to calculate financed emissions, effective EAC cancellaitons at the portfolio company level can indirectly reduce the financed emissions attributed to the investor in Category 15. EACs themselves are not a direct Category 15 instrument but influence the input data used in the Category 15 calculation due to their core functionality within market-based calculations.