Environment

3i has approximately 250 employees worldwide and has a relatively low environmental impact.

We operate from a network of seven ofﬁces across the world, with approximately 60% of our employees based at our London headquarters. All our ofﬁces are leased.

We are committed to minimising our environmental impact and to improving our environmental performance wherever possible. We have an Environmental Management System that is proportionate to the operational size and environmental risk proﬁle of our business. We use the precautionary principle to manage environmental risk for our business and our portfolio proactively. Our strategy is to:

meet the requirements of applicable environmental legislation;
minimise our own waste and maximise recycling;
work with our landlords to ensure the energy efﬁciency of our ofﬁces;
include environmental considerations in our procurement processes;
measure our operational carbon footprint annually, and publish the results in our Annual and Sustainability reports;
include environmental considerations in our investment process and seek to minimise the environmental impact of our portfolio companies;
measure the carbon footprint of our portfolio companies; and
report to two external publicly disclosed benchmarking indices and use our performance in these benchmarking indices to assess and improve future performance; we choose the CDP and the S&P Global Corporate Sustainability Assessment.

During the year to 31 March 2023, our measured Scope 1 and 2 emissions (marketbased) totalled 181.6 tCO2e. This comprised:

	FY2023 (tCO₂e)			FY2022 (tCO₂e)¹
GHG emissions (Scope)²	UK	Rest of world	Total	UK	Rest of world	Total
1	105.6	34.4	140.0	102.6	27.2	129.8
2 - location-based	86.6	72.4	159.0	93.8	67.0	160.8
2 - market-based	-	41.6	41.6	-	48.3	48.3
Total 1 & 2 (location-based)	192.2	106.8	299.0	196.4	94.2	290.6
Total Scope 1 & 2 (market-based)	105.6	76.0	181.6	102.6	75.5	178.1
3	n/a	n/a	6,802.3	n/a	n/a	2,950.3

^{1. FY2022 GHG emissions data re-stated due to inaccuracies identified in the data collection process.}
^{2. Based on IEA data (2022) Emissions factors, www.iea.org/statistics. All rights reserved; as modified}^{by 3i Group plc.}

This is equivalent to 0.8 tCO2e per full time equivalent employee, based on an average of 241 employees (2022: 0.8 tCO2e; 234 employees). Overall, our Scope 1 and 2 (market-based) emissions increased by 2.0% year-on-year as office attendance increased as restrictions to contain the spread of Covid-19 were removed.

Our measured Scope 3 emissions totalled 6,802.3 tCO2e. In FY2023 we improved the methodology for the calculation of our Scope 3 emissions from purchased goods and services through the use of better proxy data as market practice and tools evolve. The 130.6% increase in our Scope 3 emissions in FY2023 compared to the previous year is attributable to the change in methodology and use of more accurate proxy data, rather than to any substantial change to our supply chain. The data, however, reflects a near three-fold increase in the emissions associated with business travel, as pandemic-related travel restrictions were eased.

Our total fuel and electricity consumption was 1,420.3 MWh (1,420,300 KWh) in FY2023, 72% of which was consumed in the UK. The split between fuel and electricity consumption is shown in the table below.

	FY2023			FY2022²
Energy consumption (KWh in 000s )	UK	Rest of world	Total	UK	Rest of world	Total

Electricity	447.6	225.8	673.4	441.7	218.9	660.6
Fuels¹	578.6	168.3	746.9	560.1	138.9	699.0

^{1. Natural gas and transportation fuels (petrol and diesel).}
^{2. FY2022 energy consumption data re-stated due to inaccuracies identified in the data collection process.}

Our emissions have been verified to a limited level of assurance by an external third party according to the ISO 14064-3 standard.