Stantec

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.

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Stantec operates a structured three-phase renewable electricity plan. Phase 1 is purchasing unbundled Energy Attribute Certificates (EACs/REGOs/I-RECs/NZECs/US-RECs) from wind, solar, hydro, and biomass generators across 13+ countries. Phase 2 transitions away from EACs where possible to green-tariff retail supply contracts with 100% renewable fuel mixes. Phase 3 will explore on-site self-generation and additionality via power purchase agreements. By 2023, Stantec achieved 95% renewable electricity coverage, spending CAD 394,000 on EACs and green tariffs, and saving 20,041 tCO2e in market-based Scope 2 annually. The commitment to maintain 100% renewable electricity use is embedded in the corporate Sustainability Policy.

Stantec uses purchased, cancelled carbon credits to balance residual emissions and declare carbon neutrality for 2022 and 2023. In 2023, Stantec retired 60,918 tCO2e across four projects: the Great Bear (Haida Gwaii) Improved Forest Management project in BC (49,309 tCO2e, BC Carbon Registry), a Bundled Wind Power project in Maharashtra India (11,239 tCO2e, VCS), CarbonCure concrete mineralisation in the US (360 tCO2e, VCS), and a REDD project in Colombia (10 tCO2e, VCS). Stantec explicitly views carbon neutrality as an interim milestone and plans to progressively transition from offsets to inssets — actions Stantec takes using in-house expertise — as part of its Phase 3 net zero pathway. Permanent carbon removals are also intended to neutralise residual emissions at the 2050 net zero end-date.

• Fleet electrification and efficiency improvement

  Stantec's vehicle fleet is its largest source of Scope 1 emissions (9,720 tCO2e of 15,136 tCO2e total in 2023). Stantec improved fleet tracking with its fleet vendor, replaced older vehicles with more fuel-efficient models, and began purchasing electric vehicles for the fleet in 2023. These changes saved an estimated 143 tCO2e annually with no additional capital outlay. Stantec is also developing a Zero Emissions Vehicle (ZEV) transition plan and created ZEVDecide, a proprietary modelling tool that optimises EV fleet transitions for clients and for its own use.

• Business travel reduction via management directives and Sustainable Aviation Fuel

  Business travel (Scope 3 Cat 6) is one of Stantec's two SBTi near-term targets (47% cut by 2030 vs 2019). In 2023, emissions were 23,910 tCO2e versus a 2019 baseline of 31,061 tCO2e (49% progress toward target). Stantec has implemented travel management programmes, a travel approval hierarchy requiring management sign-off, and an operational commitment to travel less. For the second consecutive year Stantec purchased Sustainable Aviation Fuel from airline partners Delta, Air Canada, and Southwest (656 tCO2e savings, CAD 273,000 investment). The company also applies an internal shadow carbon price of CAD 50/tCO2e to business travel.

• Office footprint consolidation reducing Scope 1 and 2 from buildings

  Stantec concluded a three-year real estate consolidation initiative in 2023, reducing its global office footprint by over 30% against a 2019 baseline through its flexible home/hybrid/office workplace model. This delivered estimated annual emission savings of 2,016 tCO2e across Scope 1 and 2 (both location- and market-based) and approximately CAD 14 million per year in cost savings (roughly CAD 43 million total by end of 2023). The 2024-26 Strategic Plan targets a further 10% footprint reduction by 2026. New offices are purposely located in energy-efficient buildings.

• Business travel reduction through management mandates, travel approval hierarchy, and sustainable aviation fuel

  Business travel (Scope 3 Cat 6) represents Stantec's largest Scope 3 category and is the subject of a dedicated SBTi-approved target (47% reduction by 2030 vs 2019). Reduction levers include an operational commitment to travel less, a formal travel approval hierarchy, and a centralised booking tool (Egencia) that displays estimated emissions and a CAD 100/tCO2e carbon tax at point of booking, suggesting lower-carbon alternatives. In 2022 Stantec also began purchasing Sustainable Aviation Fuel (SAF) via Air Canada's inaugural Leave Less Program. An internal carbon price is mandated for non-billable airline travel. 2022 emissions of 22,028 tCO2e were 29% below the 2019 baseline of 31,061 tCO2e, though partially attributable to lingering pandemic restrictions.

• Vehicle fleet decarbonisation including EV procurement and improved fleet tracking

  Stantec operates a vehicle fleet (5,757 tCO2e Scope 1 in 2022) and has engaged its fleet vendor to improve tracking and replace older vehicles with more fuel-efficient and electric models. In 2022, the company began purchasing electric vehicles for its fleet and is in the process of developing a zero-emission vehicle (ZEV) transition plan. Stantec also developed the Stantec ZEV Decide modelling tool (an internal R&D investment) to help clients transition their fleets - demonstrating that fleet decarbonisation is both an internal and client-facing capability. Fleet improvements contributed an estimated 2,000 tCO2e in Scope 1 savings in 2022.

• Purchased goods supplier engagement to reduce Scope 3 Cat 1 emissions

  Stantec requires centrally managed suppliers (covering ~90% of spend) to provide GHG emissions data at least annually as a condition of business. In 2022, 18 travel suppliers (100%) complied. The procurement team incorporates environmental sustainability criteria into supplier selection and management, requiring suppliers to have environmental certifications, participate in circular economy take-back programmes, and use recycled-content materials. Cat 1 emissions in 2022 were 2,925 tCO2e (down from 3,809 tCO2e in 2019), with 16% calculated using supplier-provided data for paper, mobile phones, computers, furniture, and nursery inputs. Stantec plans to introduce formal climate-related supplier requirements within two years.

• Office consolidation and flexible working to reduce leased real estate footprint and associated emissions

  Stantec's single largest operational emissions reduction initiative is the consolidation of leased office space. By implementing a flexible workplace strategy (full-time remote, hybrid, or in-office), Stantec committed to reducing its worldwide real estate footprint by 30% (~1.3 million sq ft) against a 2019 baseline by end of 2023. This simultaneously lowers Scope 1 (stationary fuel) and Scope 2 emissions and generates CAD 38-45 million in cost savings. The company selects energy-efficient buildings for remaining offices and uses a standard modular interior design to accommodate fluctuating headcount cost-effectively. This initiative contributed an estimated 2,200 tCO2e reduction in 2022 Scope 1+2 emissions through improved vehicle fleet tracking and reduced physical operating conditions.

• Fleet electrification and low-carbon purchased goods via supplier engagement

  Fleet emissions are the largest single Scope 1 source at 7,780 tCO2e in 2021 (55% of Scope 1). Stantec acknowledges the slow pace of EV availability as a market risk impacting fleet decarbonisation, particularly given fieldwork requirements for four-wheel-drive high-clearance vehicles. For purchased goods (Scope 3 Cat 1, 2,301 tCO2e in 2021), Stantec engages 18 centralized suppliers annually to collect activity data, requires EPEAT/Energy Star-certified computers, mandates device take-back programs, centralizes print management to require post-consumer recycled paper, and incorporates sustainability criteria into vendor selection processes.

• Business travel reduction through management mandates and travel management systems

  Stantec has implemented mandatory travel reduction programs including an operational commitment to travel less, a new centralized travel management system (Egencia) that tracks distance and CO2e by mode and provides visibility to encourage behaviour change, and an approval hierarchy requiring extra levels of authorization for travel. In 2021, Scope 3 business travel emissions were 12,923 tCO2e - a reduction of ~18,138 tCO2e from the 2019 baseline of 31,061 tCO2e (though significantly influenced by COVID-19). Stantec acknowledges a post-pandemic rebound is expected and has committed to enforcing mandates to prevent a return to pre-pandemic travel levels.

• Office consolidation and flexible workplace strategy to reduce real estate footprint 30% by 2023

  Stantec's largest operational decarbonisation lever is the targeted 30% reduction in worldwide real estate footprint by 2023 (against 2019 baseline). By implementing a flexible workplace strategy (full remote, hybrid, and office options), Stantec reduced leased office count by 135 locations between 2017 and 2021, contributing approximately 15,000 tCO2e reduction in Scope 1+2 location-based emissions. In 2021 alone, eight offices were consolidated, saving an estimated 400 tCO2e. Total expected cost savings of $38-45 million by 2023 are also realised. New offices are selected based on energy efficiency criteria.

• Climate Solutions consulting as downstream decarbonisation lever

  Stantec's single largest climate impact is through client project outcomes rather than its own operations. Climate Solutions is one of three Strategic Growth Initiatives in the 2024-26 Strategic Plan, with a 33.6% share of the CAD 6.3 billion year-end backlog (CAD 2.1 billion) mapped to climate action categories including renewable energy (4.1% backlog), climate mitigation and adaptation. Stantec applies an SDG-aligned taxonomy to track that 61% of its 2023 gross revenue (CAD 3.9 billion) was connected to sustainable outcomes. The firm targets 75% SDG-aligned revenue by 2030 and aims for a 100% annual growth target in renewable energy and energy storage consulting through 2026.

• Supplier engagement programme for Scope 3 purchased goods and services data quality

  Stantec annually engages its centrally managed Tier 1 indirect vendors (office supplies, furniture, computers, travel) to collect GHG activity data covering 100% of supplier-related Scope 3 emissions. In 2023, Stantec met with 90% of non-compliant vendors from whom data was requested. An enterprise-wide procurement management tool was deployed in 2023 to improve consistency and accuracy of supplier GHG data. Vendors must meet Stantec's ESG expectations per the Partner Code of Business Conduct; non-compliant suppliers are retained and engaged rather than terminated. This engagement directly supports accuracy of Scope 3 Cat 1 reporting (2,743 tCO2e in 2023).

• Sustainable building and infrastructure design via AIA 2030 Commitment and Envision framework

  Stantec's most significant downstream climate lever is the sustainability performance of its designed projects. As an AIA 2030 Commitment signatory, all Stantec building designs target carbon neutrality by 2030. The Buildings business unit runs sustainability workshops, energy benchmarking and modelling, and annual portfolio KPI reporting for clients. Stantec also actively shaped the Envision sustainable infrastructure framework and the PIEVC climate resilience protocol. The company notes that 31% of its 2022 backlog ($1.83 billion CAD) is climate action-related, spanning renewable energy, energy efficiency, coastal resilience, ecosystem restoration, smart cities, and water management. While Stantec has not estimated avoided emissions from project work, it classifies 60% of revenue as connected to SDG-aligned outcomes.

• Client-facing climate action services: energy transition, ecosystem restoration, coastal resilience, and smart cities

  Stantec's most significant climate impact lever is through client-facing services, representing 29% of 2021 backlog ($1.48 billion) directly aligned with climate action (renewable energy, climate mitigation, adaptation). Four strategic growth initiatives - Coastal Resilience, Ecosystem Restoration, Smart Cities/Urban Places, and Energy Transition - drive this. In 2021, Stantec launched a global Climate Solutions team with regional leaders across ANZ, Canada, Continental Europe, UK, and US, plus a GHG/Carbon Technical group supporting nature-based solutions and carbon sequestration. As an AIA 2030 Commitment signatory, all new building designs aim for carbon neutrality by 2030. Stantec estimates market opportunity of $1.48-2 billion in climate action backlog.