We are setting ambitious targets and thinking creatively about how we achieve them.
Climate change is among the most pressing concerns of the twenty-first century and one which is having an increasingly broad range of impacts. Unchecked it will fundamentally disrupt the world’s ecosystems, with far-reaching consequences for both human beings and the natural environment. Action is needed on a global scale - from every country, government, business, and individual.
We believe that steps must be taken swiftly to tackle the climate crisis. This is why we have been offsetting all scope 1 and scope 2 emissions since 2019. We know that offsetting alone is not the solution; it does, however, mitigate our impact while we pursue longer-term systemic change.
To support us on our net zero journey, Penningtons Manches Cooper has signed a commitment with the Science Based Targets Initiative (SBTi) to develop our net zero target. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Together, they have developed a global, science-based methodology for setting corporate decarbonisation targets in line with the Paris Agreement goals of limiting global warming to 1.5°C.
Within our business, we regularly undertake a thorough analysis of our operational carbon footprint and have held the Planet Mark accreditation since 2019. We use the Greenhouse Gas Protocol as a framework for measuring and reporting our emissions.
Having set our baseline in 2019, we continue to calculate the level of emissions required for our firm to operate in line with the global emissions ceiling, which is projected to limit climate change to 1.5 degrees of warming. This level of emissions reduction has been assessed using the methodology devised by the Science Based Targets initiative. We need to deliver a 46.2% reduction in our scope 1 and 2 emissions by 2030 to meet the requisite levels, but are setting ourselves ambitious targets and hope to reduce our greenhouse gas emissions even further and faster.
Since 2019 we have seen positive reductions in our emissions year on year. The pandemic had a demonstrable impact on our emissions owing to travel restrictions and working from home. During this time new ways of working and engaging with our clients have become commonplace and we hope that these will play a role in post-pandemic years. Our 2021 and 2022 figures are considered anomalous as a result, and we will be expanding our measurements to incorporate home working metrics in future years.
Our operational emissions since 2019 are as follows:
Our position on carbon offsetting is clear - it is not a solution to the climate crisis by itself, but rather a short term tool to support carbon emissions reductions and to alleviate our immediate carbon footprint during the transitionary period. The goal remains to reduce our underlying emissions beyond the level consistent with 1.5 degrees of warming by 2030.
We plan to reach this through the following initiatives:
We understand that our response to climate change over the next decade will define our future and are pursuing a varied programme designed to achieve best environmental practice. In addition, we are already working with and supporting our clients as they navigate the risks and opportunities posed by climate change. More about our work with clients can be found here.