ERM has set ambitious science-based targets to reduce its greenhouse gas (GHG) emissions as part of a unified private sector response to the global risks of climate change.
These targets have now been validated by the Science Based Targets initiative (SBTi), making us an early adopter amongst the professional services firms. This validation comes at a time when many leading organizations are striving to decarbonize their operations to support longer-term economic, social and environmental sustainability.
ERM has set absolute targets for 2025 as follows:
- Reducing our GHG emissions from direct emissions and purchased energy by 30% (compared to 2014). To achieve this target we will take measures including transitioning to renewable energy in our offices; and
- Reducing our indirect emissions in our value chain by 11% from a 2018 base year. This ambitious target will be achieved by actions such as reducing business travel, and emissions from employee commuting.
The validation of our targets by the SBTi reinforces the advice we give to our clients on how to measure, report and reduce GHG emissions. This includes:
- development of robust accounting protocols and verifiable corporate GHG inventories;
- setting appropriate emission reduction targets and measuring and reporting progress against them;
- identifying cost-effective reduction opportunities through energy efficiency, increased uptake of renewables and transition to low-carbon technologies;
- managing GHG and wider climate risks; and
- public reporting through mandatory and voluntary disclosure programs.
The transition to a low-carbon economy is underway and accelerating globally, driven by intensifying climate policy, advances in technology, changing investor sentiment and fundamental market shifts. Leading businesses recognise the opportunity and the imperative to be part of the solution to addressing this by taking climate action. ERM’s targets have been validated by the SBTi to be in line with the level of decarbonization required to keep global temperature increase well below 2 degrees Celsius compared to pre-industrial levels.
About the SBTi
The SBTi is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses and approves companies’ targets.
Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.