According to the latest report by the Intergovernmental Panel on Climate Change (IPCC), to limit global warming to 1.5°C above pre-industrial levels and avoid the most catastrophic impacts of climate change, the world must halve CO2 emissions by around 2030 and reach net zero CO2 emissions by mid-century. Net zero, particularly when underpinned by a science based target that is aligned to limit warming to 1.5°C, provides a solution to rising global temperatures.

Participating companies commit to achieving net zero emissions by 2030. Net zero emissions applies to Scope 1, Scope 2, and material Scope 3 emissions and is achieved by reducing emissions wherever possible and using verified offsets to balance emissions that cannot be eliminated. In order to help achieve this commitment, companies are encouraged to use science based targets to achieve their reduction strategy and use Gold Standard carbon offsets or other offset products approved by relevant expert governmental or intergovernmental entities.

Participating companies are expected to self-report their performance towards achieving the commitment in a public forum on an annual basis (e.g., the company’s website and/or CSR report), including the following:  

• The process for evaluating Scope 3 emissions and identifying material emissions

• Defining the scope of what is included in their Scope 3 commitment, any exclusions, and the rationale for those exclusion

• The type of verified offset(s) used to balance emissions, and the rationale for their selection

• Their current Scope 1, 2, and 3 emissions and amount offset

We have already taken a few steps to embed climate action across our business. Here is a snapshot of some of the work we have done so far:

• July 2019 – Updated our expenses policy to include using public transport as an alternative to car travel

• August 2019 – Switched to 100% green electricity for our operations

• June 2020 – Updated our flexible working policy to include more homeworking and a focus on avoiding non-essential travel

• October 2020 – Joined the B Corp Climate Collective

• January 2021 – Had a science based target approved by the SBTi aligned with a 1.5°C scenario

Stay tuned to hear more about what we are doing going forward to achieve net zero by 2030. For more information on the B Corp Net Zero 2030 movement, please visit the B Corp Climate Collective website.