Grant Thornton — full event log

The Code reflects principles in the United Nations Global Compact (which Grant Thornton has signed) on human rights, labour, environment and anti-corruption, drawing on ILO conventions and Universal Declaration of Human Rights.

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Third parties will be working towards setting a science-based emissions reduction target and will be creating a reduction plan in line with the UK government net zero by 2050 target.

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Grant Thornton UK requires contracted suppliers to calculate annual GHG inventories across Scopes 1, 2, and 3 (covering at least 67% of scope 3 emissions) following the GHG Protocol Corporate Standard and Corporate Value Chain (Scope 3) Standard. Suppliers allocate the emissions attributable to Grant Thornton UK based on goods and services provided, using approved allocation ratios where necessary, and provide this data at least annually within one month of request.

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Grant Thornton UK expects Third Parties to share its commitment to being a responsible and sustainable business, to make a positive contribution to society, and to manage and minimise any negative ethical, social and environmental impacts of their own supply chain. Sub-contractors must also comply with the Code, and compliance is checked via risk-based due diligence.

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Grant Thornton UK pays its employees and Third Party-contracted employees the real Living Wage and expects Third Parties to pay the Living Wage to their own employees and Third Party-contracted employees.

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Each year that the supplier is contracted, suppliers shall calculate annual GHG inventory across Scopes 1, 2, and 3 following GHG Protocol Corporate Standard and Corporate Value Chain (Scope 3) Standard, including at least 67% of scope 3 emissions, and allocate emissions attributable to Grant Thornton UK.

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Any Third Party with access to, use of, or hosting Grant Thornton UK's information is required to hold up to date ISO 27001:2022 certification, Cyber Essentials, Cyber Essentials Plus or meet Third Party Risk Platform requirements.

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Third parties are expected to work towards setting a science-based emissions reduction target and to create a reduction plan aligned with the UK government net zero by 2050 target. Suppliers should also maintain environmental management systems comparable with ISO 14001 to mitigate environmental risks and drive continuous improvement.

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Grant Thornton has engaged with landlords of remaining offices with non-renewable energy to seek assurances that renewable energy will be prioritised at next contract renewal. Planned initiatives include continuing to procure renewable energy and completing the switch of the final 5% to renewable sources.

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Grant Thornton targets a 50% reduction in Scope 3 business travel and commuting emissions by 2030 versus a 2019 baseline. Scope 3 business travel and commuting has already been reduced 48% since 2019, though emissions have risen in recent years. The firm provides emissions information at point of booking, updated travel policy for emissions considerations, encourages taking train over domestic flights, and is starting to set formal reduction plans for business travel across the Group using data from an emissions dashboard.

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Grant Thornton is continuing to procure renewable energy for its UK offices and is completing the switch of the final 5% of electricity supplied to UK offices to renewable sources. 100% renewable electricity has been accounted for as zero emissions under the market-based method per GHG Protocol guidance. The firm engages with landlords of remaining offices with non-renewable energy to seek assurances that renewable energy will be prioritised at the next contract renewal. Renewable supplies are confirmed with appropriate documentation.

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For 2019 a spend-based method was used via a third-party data platform. In 2024 the top 80% of suppliers by spend were analysed to determine industry conversion factors; remaining 20% uses 'other business services' factor. Most recent supplier-specific factors used where available.

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Emissions from couriers were included within category 1 in the baseline year and have been split out into upstream transportation and distribution for 2024.

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The inclusion of Cyprus operations, acquired during 2024, has increased location- and market-based Scope 2 emissions.

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A refrigerant gas leak in the Finsbury Square London office led to a 154 tCO2e (217%) increase in Scope 1 refrigerant gases.

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Air travel increased by 1,039 tCO2e (27%) in 2024 due to business priorities.

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Since FY24, homeworking emissions reported in Carbon-Related Financial Disclosures within Members' Report and Financial Statements. Not included in CRP because 2019 baseline did not collect this data.

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Reduced property footprint. Liverpool office move achieved 100% of desks reused (cut down, resprayed, resurfaced) and reuse of reception shutters, doors and store cupboards — saving embodied carbon vs expected fit-out. New London property move underway in 2024 (completion mid-2025) with sustainability targets on refurbishment and operations.

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As part of ESOS Phase 3, surveyed offices and identified opportunities for energy savings. Submitted an action plan in 2024 including precise office-temperature monitoring, with expectation of reducing energy use by over 86,000 kWh by December 2027.

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Built environmental considerations into procurement policy and third-party code of conduct. Invested in a third-party system to manage supplier emissions data and target-setting. Target: by 2027, 55% of suppliers by emissions will have science-based targets. Working to collect primary supplier data to improve insight into Scope 3 PG&S emissions (>80% of Scope 3).

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Commuting emissions measured via employee transport-mode survey combined with desk-booking frequency data. Commuting emissions down from 8,618 tCO2e (2019) to 2,448 tCO2e (2024). Continued education of people to reduce carbon impact in and outside work.

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Grant Thornton has a validated SBTi net zero target to reduce total Scope 1, 2 and 3 emissions by at least 90% by 2045 (1.5°C pathway). Near-term targets: Scope 1&2 -70% by 2030 vs 2019 baseline; Scope 3 business travel and commuting -50% by 2030 vs 2019 baseline; 55% of suppliers by emissions to have SBTs by 2027.

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On 31 July 2024, the Group acquired Grant Thornton Holdings (Cyprus) Limited, a fellow Grant Thornton International member firm. Consideration £4.8m, goodwill £3.6m. Cyprus operations contributed £4.2m revenue for five months to December 2024. Also increased location and market-based Scope 2 emissions.

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As at the reporting date, the Group had signed a binding but conditional agreement for third party investment from Cinven. Partners voted unanimously to accept on 12 December 2024 subject to regulatory approvals. Transaction not yet complete at financial statement approval date.

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In 2024 the method for calculating Scope 3 Category 1 (PG&S) emissions was changed: top 80% of suppliers by spend were analysed using industry conversion factors; remaining 20% use emissions factor for 'other business services'. Upstream transport method also changed to account for paid-for courier services. Prior year comparatives restated.

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The 2024 GHG inventory expanded to include Cyprus operations (acquired July 2024), improving accuracy and completeness. This increased location and market-based Scope 2 emissions. The Group aims to include better and more accurate data over time.

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A refrigerant gas leak at the London Finsbury Square office led to a 217% increase in Scope 1 refrigerant emissions (154 tCO2e increase) in 2024. This was a one-off event driving Scope 1 higher year-on-year.

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The Group's property strategy is built around selecting and operating sustainable office locations, reducing the property footprint, and reducing energy consumption in offices. As part of ESOS phase 3, the Group surveyed offices to identify energy savings opportunities and submitted an action plan with the expectation of reducing kWh by over 86,000kWh by December 2027. The move to a new London office (commenced 2024, completing mid-2025) has been designed with climate as a central consideration, including low carbon refurbishment and circularity targets.

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The firm reduces commuting emissions by maximising agile and hybrid working opportunities. Commuting emissions are tracked and included in the Scope 3 inventory (2,448 tCO2e in 2024) alongside homeworking emissions (2,256 tCO2e), both calculated using UK government conversion factors. Carbon literacy training is available to all employees to encourage lower-emissions behaviour.

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Grant Thornton targets that 55% of its suppliers by emissions will have science-based targets by 2027. The firm has invested in a third-party system to manage supplier emissions data and target-setting more efficiently. The procurement strategy works with suppliers to encourage them to set their own science-based targets. Climate is built into the procurement policy and a third-party code of conduct.

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The annual report and climate disclosures do not reference any carbon removal mechanisms (DAC, BECCS, biochar, afforestation) or offset/credit purchases as part of the firm's net zero strategy. The firm's approach is focused on absolute emissions reductions across Scopes 1, 2 and 3 to meet its SBTi-validated 2045 net zero commitment, with no mention of residual emissions offsetting.

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Combined Scope 3 business travel and commuting emissions reduced 48% vs 2019 baseline, though risen in recent years (air travel +27% in 2024). Starting to set reduction plans for business travel across the firms using data from an emissions dashboard to encourage behaviour change. SBT commits to 50% reduction in business travel & commuting emissions by 2030 vs 2019.

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Employee commuting (including telework) was 8,929 tCO2e in 2022 vs 9,718 in 2019. Hybrid work model reduces commuting emissions while Connected Classroom learning reduces business travel within the firm.

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Beginning 2022, Sustainability and Real Estate teams established a site selection policy prioritizing high-performing buildings and integrating sustainability criteria into build-out, renovation and operations. Future criteria will prioritize all-electric buildings using low-carbon refrigerants.

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This is the first year Grant Thornton UK LLP has disclosed climate-related financial information under the TCFD framework, pursuant to The Limited Liability Partnerships (Climate-related Financial Disclosure) Regulations 2022.

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Current and comparative data for fugitive refrigerant emissions were added to Scope 1. Refrigerant gas is based on UK government emission factors with missing data estimated using average annual leakage rate. Refrigerant fell from 141 tCO2e (2022) to 71 tCO2e (2023).

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Submitted near-term (55% absolute reduction by 2030) and net-zero (by 2050) GHG emissions targets to SBTi for validation. Aligned with SBTi Net-Zero Standard requiring 90% absolute reduction.

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As part of limited assurance process, calendar year 2019 baseline emissions were adjusted. Public Sector Advisory practice emissions removed from baseline.

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In 2023 set Long and updated Near-Term carbon reduction targets validated by SBTi: 70% reduction Scope 1&2 by 2030; 50% reduction business travel & commuting by 2030; 55% of suppliers (by emissions) to have SBTs by 2027; Net Zero (≥90% reduction) by 2045 — all from 2019 baseline.

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Grant Thornton is reducing its property footprint and moving to more sustainable properties. As part of ESOS Phase 3 reporting they surveyed all offices and identified opportunities for energy savings to be implemented in 2024. New sustainable property guidelines have been developed to embed consideration of waste, water and energy in all future property moves. Office energy consumption (natural gas and electricity) accounts for the majority of Scope 1 and 2 emissions.

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Grant Thornton is actively procuring renewable energy and is in the process of completing the switch of the final 5% of electricity to renewable sources. 100% renewable electricity has been accounted for as zero emissions as per GHG Protocol guidance. Renewable supplies are confirmed with appropriate documentation and the most recently available residual fuel mix is used where fuel mix is unconfirmed. The firm's Scope 1 and 2 target is to reduce emissions 70% by 2030 (vs 2019 baseline), with renewable energy procurement a central lever.

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Business travel (rail, air, road) is the largest direct Scope 3 category at 4,737 tCO2e in 2023 (up from 2,910 in 2022 as travel rebounded). Grant Thornton is reducing Scope 3 travel emissions by encouraging hybrid working, providing emissions information at point of booking, updating the travel policy for emissions considerations, and maximising agile working to avoid unnecessary travel. A 50% reduction in business travel and commuting emissions by 2030 vs 2019 is an SBTi-validated near-term target.

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To align with SBTi's Net-Zero Standard, Grant Thornton committed to a 90% absolute emissions reduction by 2050, with 'High-quality carbon removals... used to neutralize the remaining 10% of emissions.' No specific removal technology (DAC, BECCS, biochar) named yet; no removal credits procured during reporting year.

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Purchased goods and services represent 39,054 tCO2e (2023) — the largest Scope 3 category by far. Grant Thornton has built consideration of the environment into its procurement policy and third-party code of conduct, and has started gathering environmental data from suppliers. Where suppliers have not started on their carbon reduction journey, the firm will ask that they set science-based targets for emissions reductions. The SBTi-validated target is for 55% of suppliers by emissions to have science-based targets by 2027.

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Grant Thornton UK LLP has an ISO 14001 certified Environmental Management System in place to support robust climate and environmental management methodologies.

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Net revenue grew 7% in 2023 to £653.5m (2022: £610.4m) with growth across Advisory, Tax and Audit. Operating profit grew 18% to £146.2m (2022: £124.0m), driven by one-off property-related income of £22.0m.

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Originally set net-zero by 2030 in 2021; extended to 2050 to meet SBTi Net-Zero Standard requirements (which demand 90% reduction with removals only for residual 10%).

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Sale of Public Sector Advisory practice in October 2022 impacted environmental and social metrics including veteran headcount and Black professional representation.

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Awarded Gold Medal rating from EcoVadis for the second year in a row.

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Grant Thornton has launched a firmwide emissions dashboard to give all people sight of emissions data and what they can do to make a difference. This is accompanied by an enhanced environmental engagement and training plan including carbon and climate literacy training available to all people. These tools are designed to embed emissions reduction into day-to-day decision making across the firm.

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Business travel is one of the largest Scope 3 categories. The firm revised its travel policy in 2022 to encourage virtual collaboration and rail/public transit over flying. CY2022 business travel emissions were 7,021 tCO2e — still 74% below the 2019 baseline of 27,322 tCO2e, largely due to maintained pandemic-era reductions.

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Purchased goods and services is the largest Scope 3 category (13,645 tCO2e in CY2022). Strategy is 'Working with suppliers to better understand the GHG emissions and environmental impacts associated with our purchased goods and services and minimizing those over time.'

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Grant Thornton committed to net zero (Scope 1, 2 and 3 down at least 90%) by 2045 on a SBTi 1.5°C pathway. Near-term targets validated by SBTi in 2023: Scope 1&2 down 70% by 2030 vs 2019 baseline; Scope 3 business travel and commuting down 50% by 2030 vs 2019 baseline; 55% of suppliers by emissions to have science-based targets by 2027.

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Current and comparative data for purchased goods and services, upstream transportation and distribution, and commuting were added to Scope 3 reporting this year. This increased total reported Scope 3 from 3,379 to 46,779 tCO2e for 2023 when including extended categories.

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Obtained limited assurance from third party on CY2019 baseline and CY2022 Scope 1, 2 and Scope 3 categories 1-7 emissions data, per AICPA standards.

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In 2023, more formally evaluated all emissions categories. New emissions inputs added: Scope 1 refrigerants, Scope 2 district heating, Scope 3 Capital Goods, Upstream Transportation & Distribution and Waste.

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Commuting emissions of 2,376 tCO2e in 2023 (2022: 2,034 tCO2e) are included in Scope 3 and covered by the SBTi near-term target to cut business travel and commuting by 50% by 2030 vs 2019. The firm continues to encourage hybrid working to reduce commuting. Emissions from employees working from home are not currently included in the inventory, representing a potential scope expansion area.

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Grant Thornton states it will begin 'Procuring renewable electricity to reduce our Scope 2 emissions' as part of its FY2024+ strategy. No PPAs, RECs, or specific renewable energy purchases were in place during the reporting year. Site selection policy will also prioritize all-electric buildings using low-carbon refrigerants.

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From 2019 through 2022, Grant Thornton reduced office square footage by more than 430,000 sq ft and associated energy use by more than 33%, supporting the hybrid work model. Combined Scope 1 and 2 emissions fell 32% from 2019.

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Grant Thornton signed the lease on its new London head office with vastly improved sustainability credentials compared to current London property, which is the primary location of over 40% of employees.

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Sustainability checklist for office relocations/renovations based on LEED and WELL Building Standard. Six offices have LEED Silver or Gold certification; 25 offices located in LEED O+M or ENERGY STAR certified buildings. Installing occupancy sensors, selecting ENERGY STAR appliances, daylight harvesting, and reusing furniture (7 office projects in 2022 used minimum 50% relocated furniture).

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Grant Thornton procures certified 100% renewable electricity for all of the sites where it is in control of the supply. The firm's environmental management system across the UK is UKAS certified to ISO 14001. Market-based Scope 2 emissions of 173 tCO2e in 2022 are substantially lower than the location-based figure (976 tCO2e), reflecting this renewable procurement strategy. The firm also uses a market-based electricity approach to calculate emissions, confirming renewable energy certificates are being retired.

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The firm monitors Scope 1 emissions from natural gas, owned/leased vehicles and other fuels, and Scope 2 electricity. Gas consumption decreased in 2022 due to lower office occupancy and a move to a hybrid working model. The firm is working on reduction plans for its most significant emission areas identified through dashboards. The new London head office was selected with vastly improved sustainability credentials. As part of updated SBTi near-term targets, the firm aims to further reduce Scope 1 and 2 emissions from natural gas, owned/leased vehicles, other fuels and electricity.

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Revised travel policy in 2022 to encourage colleagues to manage travel responsibly with appreciation for environmental impacts.

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Grant Thornton was awarded a Gold Medal rating from EcoVadis, up from Bronze the previous year, ranking in top 5% of all companies and top 1% of 686 professional services firms.

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Public Sector Advisory practice was divested in October 2022; future baselines will be adjusted to exclude this business. Science-based targets will exclude Public Sector business.

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First year combining standalone Sustainability and DE&I reports into single ESG report and including INDUS (Bengaluru, India) operations data.

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Through hybrid work model, offices transitioning from transactional workspaces to culture hubs with 'hoteling' workspaces. Reduced office square footage by nearly 150,000 square feet from FY2020 through FY2022, with more reductions expected. This drives Scope 1 and 2 emissions reductions.

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Employee commuting (including telework) emissions dropped from 10,055 tCO2e in 2019 to 5,504 tCO2e in 2021. On average, colleagues came into the office only one day per week in 2021 versus four days per week in 2019.

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For first time, reported additional Scope 3 categories including Purchased Goods and Services, Employee Commuting, and emissions from telework, in addition to Business Travel.

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Throughout 2022, worked with environmental consultant to refine targets and align with SBTi Net-Zero Standard; submission for validation planned in 2023.

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Business travel was nearly 35% of 2019 Scope 3 emissions. Travel policies were revised post-pandemic to reduce unnecessary travel, and colleagues are encouraged to select low-emissions options (e.g., rail instead of air for shorter trips). Business travel dropped to roughly 6% of 2021 total Scope 3 emissions. Challenge is to maintain reductions as travel resumes.

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Purchased goods and services contributed over 60% of baseline Scope 3 emissions along with business travel. Plans to work with suppliers to reduce emissions in Scope 3 categories. Sustainable Procurement Statement outlines expectations around environmental and social considerations for suppliers.

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For any emissions we cannot avoid, the firm will invest in renewable energy certificates and evaluate the use of carbon removal technologies to account for residual emissions in line with SBTi Net-Zero Standard. Specific removal types (DAC, BECCS, etc.) not yet specified.

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In coming years, will focus on improving energy efficiency of offices while seeking opportunities to use renewable energy. For emissions that cannot be avoided, plans to invest in renewable energy certificates (RECs) and evaluate carbon removal technologies for residual emissions. No current renewable energy procurement disclosed.

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The environmental management system across the UK is UKAS certified to ISO 14001. The firm also procures certified 100% renewable electricity for all sites where it controls supply.

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Scope 3 emissions (location-based) increased from 1,287 tCO2e (2021 restated) to 3,393 tCO2e in 2022, driven primarily by a large increase in air travel from 483 to 1,970 tCO2e as employees returned to offices and travel resumed post-pandemic hybrid working restrictions.

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Business travel (air, rail, road) represents the largest single Scope 3 category reported. In 2022 business travel emissions recovered sharply as COVID restrictions lifted, with air travel rising from 483 to 1,970 tCO2e. The firm moved to a hybrid way of working in 2022, and management is monitoring emissions from offices and travel. Flight necessity monitoring is implied through the travel booking system data feeding emissions calculations, and emission data dashboards are helping visualise changes to support reduction plans.

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Prior year (2021) energy and carbon figures are labelled 'restated' in the energy and carbon table, indicating methodology or boundary changes affecting year-over-year comparability of emissions data.

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The firm reports upstream T&D losses and excavation and transport of fuels as part of its limited Scope 3 disclosures (822 tCO2e in 2022). Where electricity grid data is unavailable for certain reporting period locations, missing data has been estimated by extrapolating known data. The firm follows GHG Protocol and uses BEIS/DESNZ conversion factors for UK operations and updated conversion factors for other Grant Thornton offices. Managed properties on 100% renewable electricity tariffs are reported as zero Scope 2 market-based emissions.

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Grant Thornton submitted updated near-term and long-term SBTi targets. Long-term target is Net Zero by reducing emissions by 90% from starting point to 2045 aligned with SBTi Corporate Standard. Near-term targets also submitted with revised 2019 baseline. Targets pending SBTi validation.

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During 2022 the firm started working on implementing TCFD-aligned requirements. Governance over ESG including climate agreed at Partnership Governance Board level. An Environmental Working Group was set up. Full TCFD report to be published in 2023 Annual Report.

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Grant Thornton submitted updated near-term and long-term targets to the Science Based Targets initiative (SBTi) with a revised 2019 baseline. The long-term Net Zero target involves reducing emissions by 90% from the starting point to 2045, aligned with the SBTi Corporate Standard and the 1.5°C goal. Near-term targets were also submitted. Once validated, these will be shared internally and externally. The firm has built awareness among its people of the impact of their decisions on the journey to net zero through firm-wide engagement sessions.

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Following formal tender process, Crowe U.K. LLP was appointed as new auditor effective from 31 December 2022 financial year. Mazors LLP resigned following completion of the 31 December 2021 audit.

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Implemented DocuSign eSignature and secure print technologies in 2020 to reduce paper waste. In FY2021, securely shredded and recycled 89 tons of paper and recycled more than 1,100 pieces of e-waste through the e-waste recycling program.

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2021 materiality assessment confirmed alignment with six previously identified U.N. SDGs and added SDG 13: Climate Action to focus areas.

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The firm is optimising office square footage following its permanent shift to a flex-work model, identifying more sustainable locations such as LEED-certified buildings or those using alternative energy sources, and improving energy efficiency of offices. Offices have transitioned from transactional workspaces to culture hubs.

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In August 2021, Grant Thornton announced goal to achieve a 55% absolute reduction of greenhouse gas emissions by 2030 from a 2019 baseline.

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Newly appointed Chief Risk and Compliance Officer (Beatrix Bernauer) has oversight for setting strategy on ESG matters, developing initiatives and reporting on sustainability performance.

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Set five DE&I goals to achieve by end of FY2025 including 30% Black/African American/Hispanic/Latinx new hires, 40% diversity in partners/principals/managing directors.

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The firm measures and reports total energy consumption under SECR, covering natural gas, purchased electricity, transport fuel and other fuels across UK operations with financial control. Total energy usage fell from 8,987,832 kWh in 2020 to 8,467,075 kWh in 2021 partly due to continued low office occupancy from hybrid working. Procedures were put in place in unoccupied offices to ensure minimal energy consumption. Two offices relocated to low-carbon buildings in 2021.

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The firm's environmental management system across the UK is UKAS certified to ISO 14001 and audited annually, focusing on objectives and actions with most significant environmental impact. The firm reports to CDP (formerly Carbon Disclosure Project) annually. Energy audits were undertaken as part of the Energy Savings Opportunity Scheme Phase II in 2019. These governance mechanisms underpin the firm's SECR disclosures and emissions reduction strategy.

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In December 2020, achieved ISO 27701 certification of privacy management system, in addition to existing ISO 27001 certification.

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In 2020, formally launched environmental management program with Environmental Policy Statement focusing on four pillars: governance, social responsibility, impact reduction, and responsible business practices.

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Business travel is the firm's largest contributor of greenhouse gas emissions (5,659 MTCO2e in CY2020). Grant Thornton is revising travel policies and reconsidering old travel habits to reduce unnecessary business travel as it emerges from the pandemic. When travel is required, the firm will encourage low-emissions intensity options such as rail instead of air for trips under a certain mileage.

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In 2021 introduced Sustainable Procurement Statement outlining commitments and expectations around environmental and social considerations for suppliers. Working with vendors to identify sustainable and energy efficient procurement options, with supply chain spend dominated by benefits, travel and meeting services, IT hardware/software, and real estate.

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In October 2021, expanded climate goal to commit to achieving net zero greenhouse gas emissions by 2030, aligned with 1.5°C scenario. Committed to SBTi validation by end of CY2023.

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In October 2021, Grant Thornton International Ltd joined the NZFSPA committing to align services and products with net zero by 2050 or sooner.

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Established the NGAC in 2021 to provide advice on environmental sustainability across all regions, service lines and firm levels.

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For residual emissions the firm cannot eliminate, Grant Thornton will invest in carbon sequestration or carbon credits as part of its net zero by 2030 strategy. Specific removal technologies (DAC, BECCS) are not specified; the firm uses broad sequestration/credit language pending SBTi validation.

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Grant Thornton announced goal to reduce absolute GHG emissions by 55% from 2019 baseline by 2030, and net-zero by 2030. Committed to SBTi validation by end of 2023.

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Grant Thornton was the first accountancy firm in the world to set science-based targets to reduce its environmental impact. The firm has committed to reducing emissions by 21% by 2023 from its 2018 baseline, verified and published by the SBTi. The firm also commits to reaching real Net-Zero following the SBTi Net-Zero Corporate Standard with a revised baseline in place, targeting 1.5°C alignment.

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As a result of further data availability, use of residual fuel mix conversion factor, and inclusion of additional Scope 3 emissions (paper and business travel by air, rail, taxis), 2020 figures were restated where above 5% change. Also reclassified road transport from Scope 3 to Scope 1 for owned/leased vehicles.

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The firm's environmental management system across the UK is UKAS certified to ISO 14001 and is audited annually, focusing on areas with most significant environmental impact.

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For any emissions the firm cannot eliminate, Grant Thornton will invest in renewable energy certificates (RECs), purchase power agreements, carbon sequestration or carbon credits to account for residual emissions. The firm seeks opportunities to use renewable energy where possible and identifies LEED-certified buildings or those using alternative energy sources for office locations.

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Grant Thornton procures certified 100% renewable electricity contracts for all owned office supplies. An office is classed as having 100% renewable electricity in 2021 if it has either a REGO certificate or confirmation of supplier fuel mix confirming purely renewable sources, plus a confirmed date of switch. For managed sites where the fuel mix is unknown or unconfirmed, the residual fuel mix for the UK is used. In 2021 two offices relocated to buildings with renewable electricity and low carbon heating systems, directly reducing market-based Scope 2 emissions (from 703 tCO2e in 2020 to 410 tCO2e in 2021).

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Grant Thornton committed to reducing emissions by 21% by 2023 from its original 2018 baseline, verified and published by the Science Based Targets initiative. The firm also committed to reaching real Net-Zero following the SBTi Net-Zero Corporate Standard.

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In 2021, two offices relocated to buildings with renewable electricity and low carbon heating systems. The firm procures certified 100% renewable electricity contracts for all owned supplies.

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Business travel (road, air and rail) represents the dominant Scope 3 category for Grant Thornton. Emissions from travel fell sharply from 1,294 tCO2e in 2020 to 641 tCO2e in 2021, reflecting the move to a hybrid way of working which is embedded post-pandemic. Air travel dropped from 962 to 479 tCO2e and road transport from 288 to 120 tCO2e. The firm acknowledges that decrease in travel-related emissions may be countered by home-working emissions which are not included in SECR reporting.

sustainability_report p.7

In 2020, market-based Scope 2 emissions were calculated using average UK grid fuel mix. In 2021, residual fuel mix for the UK was used. 2020 figures restated accordingly.

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Set five key diversity goals to be met by end of fiscal year 2025 (firm's 100th anniversary): 30% new hires Black/Hispanic, 35% NLT diverse, 40% PPMDs diverse, 50% hot-skills training, 50% increase in veterans/disabilities representation.

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Grant Thornton states commitment to reach real net-zero by 2050 without relying on offsetting. Also states a near-term target of reducing emissions by 21% by 2023. Claims to be the first accountancy firm in the world to set science-based targets.

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Due to the global pandemic, emissions in 2020 from energy consumption and travel naturally reduced due to the shift to homeworking and travel restrictions. In unoccupied offices, procedures were put in place to ensure minimal energy consumption.

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The firm identified business travel (road transport, Scope 3: 674 tCO2e in 2020) as a key reduction area. In 2021, Grant Thornton planned to look into the way the firm works going forward to ensure travel occurs when necessary rather than as the norm. COVID-19 travel restrictions naturally reduced travel emissions in 2020.

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On 26 June 2019, Grant Thornton UK LLP disposed of its Wealth Advisory business to 1825, Standard Life Aberdeen's financial planning business. An additional £3m contingent consideration was recognised in 2020 along with release of a £0.2m provision.

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Grant Thornton claims to be the first accountancy firm in the world to set science-based targets, committing to reduce emissions by 21% by 2023 and to reach real net-zero by 2050 without relying on offsetting. The firm tracks Scope 1 (natural gas), Scope 2 (electricity) and Scope 3 (road transport) under the GHG Protocol, externally verified under SECR regulations. Total footprint in 2020 was 2,008 tCO2e.

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The firm identifies waste and recycling, and paper as main areas for impact reduction alongside business travel and energy. Teams of environmental champions across the UK help to educate, drive change and encourage positive behaviours, identifying ways to reduce consumption and make small changes to make a big difference.

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In accordance with the Companies (Directors' Report) and LLP (Energy and Carbon Report) Regulations 2018, the firm presents energy and carbon data under the GHG Protocol Corporate Standard. Calculations externally verified. Scope 3 covers road transport only.

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The Group adopted IFRS 16 from 1 January 2020 using a modified retrospective approach, recognising right-of-use assets of £56.2m and lease liabilities of £59.4m at transition. Prior period comparatives not restated.

sustainability_report p.30

During COVID-19 lockdowns, procedures were put in place to ensure minimal energy consumption in unoccupied offices while meeting health and safety requirements. In 2021, Grant Thornton planned to assess the behaviour change and differences in energy use and GHG emissions associated with the shift to home working. Total energy use in 2020 was 7,142,753 kWh, down from prior periods.

sustainability_report p.11