📋 Tender Overview
Ricardo commits to achieving Net Zero carbon by 2030Ricardo plc has made a public commitment to its shareholders customers and workforce to achieve Net Zero carbon emissions from its operations by the end of calendar year 2030. Ricardo has been working actively towards this goal of achieving Net Zero carbon emissions for some time and has been helping its broad client base in realising their own climate change mitigation targets. The companys strategy employs a number of levers to achieve Net Zero. These include maximising use of renewable energy making more energy- and space-efficient use of its commercial property portfolio as more flexible office working is implemented maximising the companys digital-first strategy and hence avoiding unnecessary business travel and using the most energy-efficient means of where such journeys are essential and using verified offsetting schemes to offset residual emissions. As part of Ricardos commitment to openness and visibility which was set out in January 2020 the companys greenhouse gas GHG emissions for the financial reporting year 20192020 have been independently verified by Lloyds Register. Moreover for the first time the company has included scope 3 emissions from air travel as part of its inventory. To strengthen our Net Zero commitment Ricardo plans to implement Science-Based Targets during the financial year 20202021. Science-Based Targets are goals providing a clear and verifiable route to GHG emissions reduction a target is considered science-based if it is in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement to limit global warming to well-below 2C above pre-industrial levels and pursue efforts to limit warming to 1.5C. Ricardo is pleased to report that the percentage of renewable electricity used by the business has increased over the last three years from 67 percent in FY 20172018 to 74 percent in FY 20192020 and the company plans further actions to improve this position in FY 20202021. Ricardo CEO Dave Shemmans commented I am delighted that we are able to give a public commitment to achieving Net Zero carbon emissions from our operations for 2030.There is an increasing need for companies to contribute to the global effort to achieve the Paris Agreement targets and I hope others will follow. We have continued to deliver on our environmental commitments whilst responding to the challenges of Covid-19. From these challenges we have gained additional insights particularly related to the application of our digital-first strategy which has been instrumental to our management of operations through the pandemic as well as resulting in a reduction in travel. In air travel in particular the past year has seen our carbon footprint reduce by a full two thirds. The Net Zero commitment being made by Ricardo today thus firmly underscores our guiding ethos of creating a more sustainable world that is fully fit for the future. The enhanced operational reporting required to track the companys progress to Net Zero will be built on the best practice Ricardos environmental consultants have developed for their client work. In this work they help both governments and the private sector in achieving their goals to reduce GHG emissions and use scarce resources more effectively and efficiently. Ricardos Net Zero 2030 target is a key part of the companys stated mission to create and deliver innovative cross-sector sustainable efficient and secure energy environmental and mobility solutions.
