SThree plc has announced an ambitious SBTi-verified net-zero target and transition plan, together with the publication of its annual review of the impact of the Group’s ESG strategy. For more than a decade, SThree has taken action to reduce its environmental impact and has made considerable progress since setting its first climate science aligned target, reducing its carbon emissions by 44 per cent since 2019.
In 2022, SThree strengthened its ambitions and completed the process to set net-zero targets verified by SBTi. These targets cover greenhouse gas (GHG) emissions from SThree’s own operations (scope 1 & 2) and value chains (scope 3). As a result of the SBTi targets, SThree is now a member of the Business Ambition for 1.5°C.
“I am incredibly proud to see SThree continuing to take a leading role in sustainability with the new commitments announced today, which set to further ensure the protection of our climate,” said Timo Lehne, CEO, SThree. “To be able to say we are now pursuing an approved net-zero target aligned to 1.5°C underscores the commitments and investments we have made as part of our ESG strategy.
“Our aim is to be as transparent and ambitious as possible for our stakeholders, and this is reflected in the fact that we are announcing targets which are fully verified by the SBTi, alongside a clear and comprehensive transition plan. We are now set on a path to reaching net-zero and we look forward to providing updates on our progress.”
Gemma Branney, global director of purpose and inclusion, commented: “SThree plays a crucial role in providing the STEM skills that will invent, innovate and adapt to tackle climate change. Our commitment to net-zero mirrors our commitment to finding and nurturing the talent needed to build a sustainable future for everyone.”
The Science Based Targets initiative (SBTi) is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi drives ambitious climate action in the private sector by enabling organisations to set science-based emissions reduction targets.
The Group’s approach to net-zero involves planned, targeted action that is led by data and encompasses behaviour change, operational adaptions and influencing its end-to-end value chain. SThree acknowledges that reducing its full value chain emissions will take time due to the high proportion of emissions being generated via the supply chain. As a result, scope 3 emissions will be reduced more gradually, being halved by 2030 before the Group continues its path to net-zero in the longer term, understanding the urgency to take action and therefore being more ambitious with the emissions it has more control over (scope 1 and scope 2).
The success of the Group’s commitments is measured against a number of targets.
· Positively impacting a total of 150,000 lives by 2024 (2019 baseline)
· Doubling the share of its global renewables business by 2024 (2019 baseline);
· Reducing absolute carbon emissions by 25 per cent by 2024 (2019 baseline) – strengthened by the net-zero target announced today
· Aspiring to increase gender representation at leadership levels to 50/50.
· The 2022 Impact Report highlights progress against these targets in 2022, including:
· A total of 88,741 lives positively impacted by SThree since 1 December 2019
· Net fees from the global renewables business grew 29 per cent YoY in 2022, contributing to an 88 per cent increase since 2019 (baseline year)
· Absolute carbon emissions were reduced by 44 per cent in 2022 on 2019 levels, despite a return to more normalised levels of travel since pandemic restrictions were lifted
· Stabilising carbon emissions within a more flexible working environment remains the focus
· Representation of women in leadership positions at 32 per cent.
