Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.
OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.
EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?
PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.
How the firm describes its decarbonisation approach in its own words — alongside the headline numbers above. Self-reported, page-cited.
85.3% of electricity across EMEA is purchased on a 100% renewable energy green tariff. Ten office buildings hold leading environmental certificates including LEED Platinum (Frankfurt, Singapore, Shanghai, Dubai), LEED Gold (Bangkok, Dusseldorf), BREEAM Excellent (Amsterdam, Brussels, Warsaw) and BEAM PLUS Platinum (Hong Kong), supporting low-carbon electricity sourcing.
Since UK offices partnered with PrintReleaf in September 2022, 1,262 trees have been reforested (as of February 2025) to offset paper consumption. The firm has not disclosed durable removal purchases (DAC, BECCS, biochar); reforestation is the primary nature-based mechanism referenced.
Scope 2 market-based emissions fell 91% from 2019 (4,334 tCO2e) to 2024 (393 tCO2e), driven by 85.3% of EMEA electricity on 100% renewable green tariffs and occupancy of LEED Platinum/Gold and BREEAM Excellent rated buildings.
Multi-year cloud strategy migrated email, voice, collaboration to Microsoft 365, document management to iManage cloud, and on-premise infrastructure to Microsoft Azure. Achieved 93% reduction in emissions (equivalent to 328 MtCO2e per year) by using Microsoft's hosting versus own data centres, and decommissioned 326 pieces of physical hardware (servers, switches, firewalls).
London office partnered with CauliBox in August 2024, a reusable food container system. ~85% of takeaway meals now served in a reusable container; 36,915 disposable cups and containers saved as of February 2025. Each CauliBox use saves an estimated 237.5g CO2.
Procured over 2,000 new Dell laptops shipped with 50% recycled cobalt batteries, recycled aluminium/magnesium/glass, EPEAT Gold Climate+ registered, and 100% recyclable packaging. Two-thirds of EMEA estate replaced; remaining laptops in good condition rebuilt to Windows 11 to extend life. Old equipment donated to local schools and charities (SeniorApp Foundation, North East Law Centre).
Scope 3 business travel is a focus area. Travel Manager Sarah Scanes is working with the Sustainability Core team to introduce a travel policy that focuses on financial and traveller wellbeing as well as the planet, aiming to reduce unnecessary carbon emissions through travel services.
The firm aims to move from GHG Protocol Scope 3 Evaluator spend-based factors (now decommissioned) towards the supplier-specific method for Purchased Goods & Services and Capital Goods categories, improving primary data and completeness for the dominant Scope 3 categories.
The firm embeds ESG into its EMEA property strategy, selecting low-carbon, high-wellbeing buildings. 8 buildings hold leading environmental certificates (LEED Platinum/Gold, BREEAM Excellent, BEAM Plus). The 2023 Dubai relocation to ICD Brookfield Place delivered improved energy and water efficiency. London building team is implementing energy efficiency measures alongside a zero waste to landfill policy.
31% of the top 200 suppliers (by spend) had already set or committed to setting targets with the SBTi as of 2025. The firm aims to move towards supplier-specific method for Purchased Goods & Services and Capital Goods Scope 3 categories to improve data quality.
In 2023, 20% of the firm's top 200 suppliers (by spend) had already or were committed to setting SBTi targets. The firm launched Supplier Principles as the foundation for supplier engagement and is working with suppliers to set stretching sustainability KPIs and roll out new initiatives. The procurement team works to reduce natural resource use, packaging, and energy consumption of IT products.
| Scope | Base | Target | Reduction | Alignment | Progress | Status |
|---|---|---|---|---|---|---|
| Scope 1 + 2Absolute | 2019 | 2030 | −75% | 1.5°C | 10.7% reduction achieved vs 75% target (14% of the way there). Linear pace expects 34.1% by now. −10.7% reductionof −75% target · 14% there | Off track |
| Scope 3Absolute | 2019 | 2030 | −46% | 57.8% reduction achieved vs 46% target (125% of the way there). Linear pace expects 21.0% by now. −57.8% reductionof −46% target · 125% there | On track |
| Scope | Base | Target | Reduction | Alignment | Progress | Status |
|---|---|---|---|---|---|---|
| Scope 1 + 2Absolute | 2019 | 2040 | −90% | 1.5°C | 10.7% reduction achieved vs 90% target (12% of the way there). Linear pace expects 21.4% by now. −10.7% reductionof −90% target · 12% there | Off track |
| Scope 3Absolute | 2019 | 2040 | −90% | 57.8% reduction achieved vs 90% target (64% of the way there). Linear pace expects 21.4% by now. −57.8% reductionof −90% target · 64% there | On track |
| Scope | Base | Target | Reduction | Alignment | Progress | Status |
|---|---|---|---|---|---|---|
| Scope 1 + 2 + 3 | 2019 | 2040 | — | 1.5°C | absolute-value target | — |
⚠ Some targets show progress vs the earliest extracted year as a baseline approximation. The real base-year value will be used once historical reports are extracted.
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