SBTi-validated 1.5°C near-term targets approved In 2021, Stantec set and had approved by SBTi two 1.5°C-aligned absolute emissions reduction targets: 47% reduction in Scope 1 + Scope 2 market-based by 2030 from 2019 base, and 47% reduction in Scope 3 business travel by 2030 from 2019 base.
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Added employee commuting and additional Scope 3 categories Stantec expanded Scope 3 inventory to include employee commuting, hotels in business travel, and furniture/mobile phones/computers in purchased goods and services.
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Six acquisitions completed in 2021 including Cardno Stantec acquired Cardno (US/Australia, ~2,750 staff), Cox McLain, Driven by Values, Engenium, GTA Consultants, and Paleo Solutions. Three (Engenium, GTA, Paleo) were included in 2021 emissions; Cardno, Cox McLain, Driven by Values acquired late in year and excluded from 2021 emissions.
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2019 Scope 3 baseline restated for SBTi validation Base year 2019 Scope 3 emissions adjusted during SBTi validation: added hotels in business travel; added furniture, mobile phones, computers in purchased goods; added employee commuting calculation; updated GWP factors.
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1.5°C SBTi-validated near-term targets set (Scope 1+2 and Scope 3 business travel, 47% by 2030) In 2021 Stantec set two 1.5°C-aligned science-based targets approved by SBTi: 47% absolute reduction in Scope 1 and Scope 2 (market-based) emissions by 2030 from 2019 baseline, and 47% reduction in Scope 3 business travel emissions by 2030 from 2019 baseline.
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Net zero by 2050 commitment Stantec committed to net zero by 2050 and committed to seek SBTi validation within 2 years. Plan includes phased approach via carbon neutral 2022, transition from offsets to insets, then SBTi Net Zero Standard alignment.
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COVID-19 lockdowns temporarily depressed emissions Stantec notes 2021 emissions reductions partly due to pandemic-related office closures and travel restrictions; rebound expected in 2022. Targets not marked achieved despite numbers meeting 2030 levels.
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30% real estate footprint reduction by 2023 announced Stantec announced flexible workplace strategy targeting 30% reduction in worldwide real estate footprint by 2023 vs 2019 baseline, with $38-45M annual cost savings expected.
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Sustainability-linked loan with SBT KPI Stantec aligned company-wide financing with a sustainability-linked loan, with KPI tied to attainment of 1.5°C SBTs.
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Limited third-party assurance under ISO 14064-3 Scope 1, Scope 2 (location and market) verified at 100%, Scope 3 verified at 87% under ISO 14064-3 limited assurance.
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