Achieving net zero is tough. In the face of a developing business, an expanding office footprint, and a growing workforce, reducing emissions is no easy task. Nor is the tracking and monitoring of this data, particularly as the detail and complexity of reporting becomes more onerous and more technical. That said, the value of our net zero journey, the learning and the collaboration involved over the past five years has been immense. While the destination remains challenging, the progress made so far reinforces our commitment to keep pushing this agenda forward.
Having a clear starting point, covering scope 1, 2 and 3 emissions, is crucial to understanding what actions need to be taken and the organisation’s overall level of ambition. Using FY19 as our baseline helped us understand the source of our emissions and which areas merit most focus. At this point, data quality and availability posed the first big problem, particularly for scope 3, since most emissions typically lie in the value chain.
In line with our target, absolute scope 1 and 2 emissions need to be reduced by 50% from a 2019 baseline. In line with prior years, Scope 2 emissions are expected to make up around half of our total emissions Scope 1, Scope 2, and business travel emissions. As a result, we continue to implement measures to reduce our impact. This includes smart controls embedded within a new building management system, investment in energy efficient HVAC and lighting solutions, and on-site renewables to source renewable energy directly.
Business travel is expected to remain our largest source of (controlled) emissions, contributing around 50% of our combined Scope 1, Scope 2, and business travel emissions. This includes air travel, land transport (such as rental cars, fuel, taxis, and trains), and overnight accommodation used during business travel. As an island nation with strong overseas links, cutting these emissions remains challenging. However, we continue to monitor travel and manage emissions carefully, by focusing on travelling smarter, by choosing more efficient travel options, and opting to travel less, by planning trips better and using a mix of in-person and virtual meetings.
We continue to take action to reduce the climate impact of our operations. To address remaining emissions, we support high-quality, independently verified carbon reduction and removal projects. By FY30, we aim to transition our carbon credit portfolio fully to carbon removals.
We offset emissions across Scope 1, Scope 2, and Scope 3 business travel through a centralised purchasing process led by the PwC network. This gives us access to a range of verified carbon credits from different regions.
We have also partnered with Climeworks, a Direct Air Capture (DAC) facility in Iceland that removes carbon dioxide from the atmosphere. This partnership helps support the development of important net zero technologies worldwide.
Beyond supporting your existing or planned sustainability initiatives, our teams can assist your organisation in meeting reporting and strategic requirements. This could include support with identifying material sustainability issues, conducting carbon footprint assessments with a focus on Scope 3 emissions, reviewing ESG data and systems, and delivering targeted ESG training.
In addition, we can help organisations align sustainability goals with business strategy, leverage data analytics to monitor progress, and develop effective ESG approaches. If you are interested in exploring these opportunities, please reach out to our dedicated teams.
