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:
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
|
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
|
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.