BDO’s science-based targets for achieving Net-Zero validated by SBTi
BDO’s science-based targets for achieving Net-Zero validated by SBTi
Accountancy and business advisory firm BDO has announced its science-based targets for achieving Net-Zero have been validated by the Science Based Targets initiative (SBTi).
The SBTi is a global body enabling businesses to set ambitious emission reduction targets in line with the latest climate science. Backed by the United Nations, its focus is on helping companies across the world achieve net zero emissions before 2050.
Following BDO’s announcement of its commitment to transition to Net-Zero in December, the SBTi has now validated both the firm’s near-term and long-term targets. The SBTi has confirmed that the detailed data and planning that sit behind BDO’s targets are credible and in line with the goal of limiting global warming to 1.5°C.
BDO has had the following science-based targets approved:
Overall target
- To reach Net-Zero greenhouse gas (GHG) emissions by 2050
Near-term target
- To reduce absolute scope 1 & 2 GHG emissions 50% by 2030
- To ensure 80% of BDO’s suppliers by emissions will have science-based targets by 2027
Long-term targets
- To reduce absolute scope 1 & 2 GHG emissions by 90% by 2050
- To reduce scope 3 GHG emissions by 97% per full-time employee by 2050.
BDO UK’s Net-Zero roadmap aligns with BDO’s global plans for its international network of member firms to become Net-Zero by 2050.
The UK firm’s transition to Net-Zero is being overseen by the Decarbonisation Steering Committee, chaired by Finance Partner, Stuart Collins. The team brings together experts from across the business to execute the firm’s detailed transition plans, including understanding where the firm’s emissions come from, the priorities for change, setting new real estate standards, and how progress is measured.
Stuart Collins, BDO’s Finance Partner and Chair of the Decarbonisation Steering Committee, said:
“Businesses have a responsibility to do what they can to ensure a thriving, sustainable world. As individuals and as part of a bigger organisation, we have a role to play in protecting, preserving and renewing our resources so that the way we live our lives today is sustainable for future generations.
“Gaining the SBTi’s validation of our targets is a significant milestone. We need the support of everyone in the firm to reduce our emissions which, in addition to the clear moral case, is increasingly becoming a commercial imperative.”
Matthew White, BDO’s Senior Partner and co-chair of its ESG Board, added:
“Decarbonising touches every aspect of the firm’s business and operations – how we work, how we travel and how we buy. I am personally delighted that we have received validation from SBTi on our Net-Zero plan and our near-term and long-term targets. This demonstrates our commitment as a firm to reduce our emissions in line with the 1.5°C trajectory, ensuring as a business we are doing everything we can as we look to tomorrow.”
ENDS
*The Greenhouse Gas Protocol categorises direct and indirect emissions into three broad scopes. BDO’s science-based targets fall into the scope classifications as outlined below:
- Scope 1: Direct greenhouse gas emissions occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment.
- Scope 2: Indirect greenhouse gas emissions from consumption of purchased electricity, heat or steam.
- Scope 3: Other indirect emissions, such as the extraction and production of purchased materials and fuels, transport-related activities in vehicles not owned or controlled by the reporting entity, electricity-related activities (e.g. T&D losses) not covered in Scope 2, outsourced activities, waste disposal, etc.
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BDO LLP
BDO LLP operates in 17 offices across the UK, employing 7,500 people offering tax, audit and assurance, and a range of advisory services. BDO LLP is the UK member firm of the BDO international network.
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The BDO global network provides business advisory services in 164 countries and territories, with 111,300 people working out of 1,803 offices worldwide. It has revenues of US$12.8bn.
Contacts
Nikki Barnsley-Walker
Corporate Affairs Executive
Nikki.barnsley-walker@bdo.co.uk