EcoVadis Silver Medal 2023 FactSet scored 68 in EcoVadis 2023 rating (4-point increase from 2022), attaining a Silver Medal in the top 25% of rated companies.
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REC procurement strategy (Green-e Certified) FactSet is exploring renewable energy opportunities to reduce GHG emissions. In fiscal 2023, FactSet procured renewable energy credits (RECs) to reduce scope 2 emissions for fiscal 2022. As a lessee at all 34 office locations, FactSet has limited access to on-site renewable assets. Policy is to purchase only Green-e Certified RECs (or equivalent) to ensure power is directly generated from renewable assets and retired after purchase. The Paris 32 Rue Blanche office is connected to Fraîcheur de Paris urban cooling network powered by 100% renewable electricity.
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Primary: Employee transportation in Hyderabad & Manila The two primary sources of scope 1 and 2 emissions are electricity consumption at office locations and the transportation FactSet provides to employees in Hyderabad, India and Manila, Philippines, which combined account for 80% of scope 1 and 2 emissions.
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Dependent: Employee commuting & business travel Employee commuting (cat 7) and business travel (cat 6) represented 16% and 3% respectively of FY23 scope 3 emissions. The hybrid work model has reduced office footprints. Employee commuting emissions dropped from 12,750 tCO2e in FY22 to 6,093 tCO2e in FY23.
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Primary: Cloud migration for product energy efficiency FactSet is continuing its migration to cloud services to enhance energy efficiency for its product offering, part of its reduction strategy to explore alternative ways to reduce emissions within facilities and services.
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Dependent: Supplier engagement on purchased goods & services Purchased goods and services represent 75% of FactSet's scope 3 emissions (FY23). FactSet rolled out a sustainability-focused supplier questionnaire, adopted a Sustainable Procurement Policy, and is prioritizing vendors representing largest spend areas and greatest emissions intensity. Will continue collaborating with suppliers to identify Scope 3 reduction opportunities in FY24.
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First Scope 3 inventory completed In fiscal 2023, FactSet prepared its first Scope 3 emissions inventory covering categories C1, C2, C3, C5, C6, C7, C8, and C15. Fiscal 2022 data was also calculated retrospectively.
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Paris office consolidation In March 2023, FactSet consolidated three Paris offices into a single new office at 32 Rue Blanche, reducing scope 1 and 2 footprint. Office size reduced from ~3000 m² to 1000 m², desks from 230 to 72.
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Published Occupational Health and Safety Policy In fiscal 2023, FactSet published an Occupational Health and Safety Policy establishing a framework for health and safety objectives across all facilities.
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Offsetting residual emissions toward net-zero 2040 FactSet defines net-zero as reducing emissions as close to zero as possible, then offsetting any residual emissions. The climate transition plan being developed aims at reducing emissions to as close to zero as possible, then offsetting residual emissions. No specific durable removal pathways (DAC, BECCS, biochar) are discussed; reliance is on future offsetting strategy.
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