First-time limited assurance over GHG inventories (CY2019 and CY2022) In 2023, Grant Thornton obtained limited assurance over its GHG inventories for the first time. Scope 1, Scope 2 and Scope 3 categories 1-7 emissions data for calendar year 2019 baseline and calendar year 2022 were reviewed by an external CPA firm in accordance with applicable AICPA standards.
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2023 revenue disaggregation restated for service-line moves 2023 disclosure restated to reflect structural changes during 2024 which moved certain operating units between Advisory and Tax. Impact: £19.4m increase in Tax revenue and £19.4m decrease in Advisory revenue from previously reported 2023 figures.
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SBTi-validated near-term and net-zero targets Targets validated by SBTi in 2023: reduce Scope 1 and 2 emissions by 70% by 2030 (vs 2019 baseline); reduce Scope 3 business travel and commuting by 50% by 2030; 55% of suppliers by emissions to have science-based targets by 2027; net zero (90% reduction across all scopes) by 2045 aligned with SBTi 1.5°C pathway.
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19% of Scope 1 and 2 energy data estimated (down from 24%) For Scope 1 and 2 energy usage, 19% of data is estimated in 2023 (2022: 24%). Improved data coverage. Group also confirmed it will restate comparatives if methodology changes alter data by more than 5%.
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Submitted near-term and net-zero GHG targets to SBTi for validation Grant Thornton submitted its emissions reduction targets to the Science Based Targets initiative for validation in early 2023. Near-term target: reduce absolute Scope 1 and 2 GHG emissions by 90% and reduce Scope 3 emissions by more than 50% from 2019 levels by 2030. Long-term: reduce absolute Scope 3 emissions 90% by 2050.
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Divested Public Sector Advisory practice in October 2022 The firm's Public Sector Advisory practice was divested in October 2022. The divestiture impacted metrics in environmental and social areas. Emissions associated with the practice have been removed from GHG inventories including baseline.
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Restated 2019 baseline GHG emissions following limited assurance As part of the limited assurance process, calendar year 2019 baseline emissions were adjusted. Data was also updated to remove Public Sector Advisory practice emissions. Additional updates to data collection and methodology processes drove changes in previously reported emissions data.
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Excluded calendar year 2020 data due to COVID-related anomalies 2020 data is not included in reporting because datasets from that period are incomplete and include more proxy data and estimates. Significant pandemic-related reductions in business travel were not representative of typical emissions.
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Net-zero target extended from 2030 to 2050 to align with SBTi Net-Zero Standard In 2021, Grant Thornton originally set a long-term goal to achieve net-zero GHG emissions by 2030. Throughout 2022, in preparation for SBTi submission, the firm refined its goals to align with the SBTi's Net-Zero Standard, which requires reducing absolute emissions by 90%. To meet the requirements, the long-term net-zero goal timeline was extended to 2050. Near-term target remains 55% reduction by 2030 from 2019 baseline.
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Added new emissions inputs: refrigerants, district heating, capital goods, upstream transportation, waste In 2023, the firm more formally evaluated all emissions categories and reported on most complete emissions datasets to date. New emissions inputs added: Scope 1 refrigerants, Scope 2 district heating, and additional Scope 3 categories including Capital Goods, Upstream Transportation & Distribution, and Waste.
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