The 2015 Paris Agreement saw countries agree to cut greenhouse gas emissions with a view to holding the increase in the global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5°C. Earlier this year, the Intergovernmental Panel on Climate Change published a report which said that unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming close to 1.5°C or even 2°C will be beyond reach.
We are committed to setting science-based targets, aligned to the 1.5°C pathway to help prevent the worst effects of climate change. We will track and report on our progress annually.
Companies that set science-based targets build long-term business value and safeguard their future profitability in four important ways: they drive innovation, save money, increase competitiveness, build credibility and influence evolving public policy.
In addition to our commitment to set science-based targets, we have also taken the following actions:
- In the UK, we have worked closely with our landlords to enable nine of our ten offices to run on green electricity. We continue to work with landlords and building management to identify further opportunities to reduce emissions using green energy.
- We participated in the United Nations Sustainable Development Goals Ambition Accelerator Initiative. The programme, which ran from October 2020 through to July 2021, helped to inform and align our decarbonisation goals with science-based targets.
- We have been ISO14001 accredited since 2012, which means we have a recognised Environmental Management System embedded within the business to help us to identify and measure climate risks occurring as a result of our operations.
- We have also committed that in our next Annual Report, we will publish a report on the governance, strategy, risk management, metrics and targets in respect of climate-related risks.
Our Science-Based Targets are being reviewed ahead of scheduled publication on 9 December as part of our Group ESG Strategy.
We will update this page with the detail of those targets in due course.