We are formally committed via the Science Based Targets Initiative (SBTi) to net zero across our value chain by 2050. In 2023 we are seeking external validation of our refreshed targets via the SBTi process which are currently anticipated to be:
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Near term: A 34% reduction of Scope 1 and 2 emissions by 2030 against a 2022 baseline.
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Near term: Scope 3 – A proportion of our suppliers by spend to set science-based targets by 2028.
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Net zero by 2050 across Scope 1, 2 and 3 emissions
We recognise the need to work collaboratively across our value chain to achieve our own, our clients and wider society’s net zero ambitions and we realise the importance of having a robust and transparent net zero transition plan to support this process. We have used the initial guidance and framework published by the UK Transition Plan Taskforce in November 2022 to mature our planning, see schematic below, and will seek to update over 2023, gaining external scrutiny and independent assurance when the final guidance is published. Our transition planning will be updated periodically as we progress against our milestones and as best practice emerges.
In 2022 we were scored A- for our CDP climate change disclosure and are listed on the 2022 CDP Supplier Engagement Leaderboard, having been among the top 8% assessed for supplier engagement on climate change.
In 2023 our short term actions include:
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Review of green electricity tariff and renewable energy certificate opportunities in Americas, Middle East and Australia
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Global fleet transition assessment to further understand potential timeframes for transition, government low carbon vehicle policies and targets across our operating geographies, infrastructure, contractual limitations / opportunities, resource implications and fleet supply chain elements
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Identify a partner to refine the measurement of our scope 3 purchased goods and services to help hotspot carbon emissions and support more informed low carbon procurement choices
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Work with insurance partners to provide global coverage of climate analytics across our insurable assets to further understand and plan for climate risks from extreme weather
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Continue to improve green skills, competence, training opportunities and capabilities
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Continue to grow existing and explore new partnerships with nature-based solution providers, supporting the ecosystem restoration and biodiversity agenda
In the UK we have published an Carbon Reduction Plan which specifically covers our UK operations. This Carbon Reduction Plan sets out our interim targets on our journey to net zero and our progress and plans to reduce and avoid carbon to meet these targets.