Crowe

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.

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

Since 2020, all four of Crowe's major office relocations (London, Thames Valley, Manchester and Maidstone) have been to buildings with full electrical-powered heating and ventilation systems. All buildings are fitted with LED and sensor lighting, and Crowe invests in solar panel upgrades where possible. However only 13% of offices currently use solely renewable electricity vs a 100% target — Crowe is working with managing agents and landlords to standardise sustainability across leased real estate.

No narrative on durable removals approach in the firm's most recent reports.

• Waste reduction — zero-printing campaign and recycling

  National Waste Management Policy published in 2023. Programmes include an ongoing zero-printing campaign with desk bin and printer removals, confidential waste reduction, IT asset renewal/reuse/recycle/donate processes, and recycling segregation improvements supported by Sustainability Champions in each office.

• Business travel and commuting reduction via EV scheme and rail-first policy

  The firm's travel policy prioritises rail over road and air travel, with season tickets offered to support affordable public transport commuting. In 2023, Crowe launched an EV scheme with Octopus EV replacing the petrol/diesel company car scheme, saving 49.5 tCO2 to date and equivalent to 24,754 trees. Partner car schemes were revised to incentivise hybrid and electric vehicles. Combined business travel and commuting Scope 3 stood at 1,157.97 tCO2e in FY2024, with an FY2030 SBTi target of 1,603 tCO2e (-25% from FY2020 inferred baseline of ~2,137 tCO2e).

• Office energy decarbonisation: electrical buildings, LED lighting, continuous monitoring

  Crowe invests in long-term leases specifically targeting buildings with high sustainability credentials, working with managing agents to improve site performance. Since 2020, all four major office relocations have been to buildings with full electrical-powered heating and ventilation, eliminating gas demand. All offices are fitted with LED and sensor-activated lighting. A continuous monitoring process tracks energy usage to maintain up-to-date data and support the significant reduction in Scope 2 emissions (92.52 tCO2e in FY2020 to 11.36 tCO2e in FY2024, already exceeding the 50% Scope 1+2 SBTi target for 2030).

• Waste and paper reduction: zero printing campaign, waste management policy, recycling

  Crowe has implemented a national Waste Management Policy and runs an ongoing zero printing campaign to reduce paper consumption (FY2024: 6.78 tonnes paper waste from printing). All offices have improving recycling stations managed under the national policy. Sustainability Champions drive local initiatives including composting, desk bin removals, and improved recycling segregation. IT asset lifecycle controls (renewal, reuse, recycle, donation) and confidential waste management are embedded nationally, with waste-related Scope 3 Cat 5 emissions at just 1.82 tCO2e in FY2024.

• Business travel reduction — rail-first policy and EV scheme replacing company cars

  Crowe's travel policy prioritises rail and offers season tickets to support public-transport commuting. In 2023 the company-car scheme was replaced with an Octopus Electric Vehicle scheme to phase out petrol and diesel cars, with the partner scheme also adjusted to incentivise hybrid/electric vehicles. To date the EV transaction has saved 49.5 tCO2.

• Employee commuting — rail season tickets and EV-scheme

  Crowe encourages public-transport commuting via season tickets and offers an electric-vehicle salary-sacrifice scheme through Octopus EV. Scope 3 travel + commuting emissions were 1,157.97 tCO2e in FY2024 vs an SBTi-aligned FY2030 target of 1,603 tCO2e (already below target).

• Office energy efficiency and electrification

  All offices are fitted with LED lighting and sensored lighting where possible. Recent major office relocations have moved to buildings with fully electric heating and ventilation systems. Continuous monitoring of energy usage is in place, with solar panel upgrades where feasible.

• Supply chain engagement to reduce Scope 3 purchased goods and services (Cat 1)

  Purchased goods and services is Crowe's largest Scope 3 category (FY2024: 3,902 tCO2e, FY2030 SBTi target: 3,455 tCO2e; -25% from FY2020 inferred baseline of ~4,607 tCO2e). Crowe published a Supplier Code of Conduct (January 2024) and Responsible Procurement Policy (2023), uses Risk Ledger third-party risk assessment tool with standardised Net Zero questions applied to the top 10% of suppliers by emission criticality, and requires suppliers to develop sustainability action plans. Pre-qualification and vetting processes now include assessment of suppliers' GHG reduction commitments.

• Purchased goods & services — supplier engagement on Scope 3

  Given the majority of emissions are Scope 3 (96% in FY2024), Crowe is embedding sustainability into procurement. A Supplier Code of Conduct (published 2024), Responsible Procurement Policy (2023) and Risk Ledger third-party assessment now incorporate Net Zero questions. Crowe has reviewed and is engaging with the top 10% of suppliers (by emission criticality) to understand their decarbonisation plans.