A&O commits to a 50% reduction in absolute carbon emissions by 2030
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News: 24 January 2022
Allen & Overy’s ambitious and independently assessed greenhouse gas emission reduction targets have been approved by the Science Based Targets initiative (SBTi). The targets will see the firm reduce by 50% its absolute annual global carbon emissions by 2030 from a base year of 2019.
The approval from SBTi confirms that the new commitment is consistent with the most ambitious goals of the Paris Agreement, with the firm’s reductions in line with those required to keep global warming to 1.5°C which, according to the latest climate science, is what is needed to prevent the most damaging effects of climate change.
The approved targets will address the direct carbon emissions made by the firm and its people globally as well as the indirect emissions from its worldwide supply chain and the goods it purchases.
The transition to a zero-carbon economy is underway and accelerating globally, but the latest climate science tells us that more needs to be done and faster.
Gareth Price, global managing partner
Commenting on the newly approved targets, global managing partner Gareth Price said: “This commitment to clear and measurable targets for reducing our greenhouse gas emissions is a positive step in tackling climate change. The transition to a zero-carbon economy is underway and accelerating globally, but the latest climate science tells us that more needs to be done and faster.
“Our partners, staff and clients around the world expect us to be proactive in reducing our impact on the climate. By committing to the targets agreed with the Science Based Targets initiative we now have a clearly defined pathway for how much and how quickly we need to reduce our emissions in order to be consistent with keeping global warming below its most dangerous levels.”
Over the course of the last 10 years A&O has reduced its carbon footprint by 12% and over half of its emissions are now managed at office locations with ISO 14001 certified Environmental Management Systems. Since 2016 the firm has offset the emissions from its Scope 3 global air travel, and since 2019, it has also offset all residual Scope 1 and 2 emissions.
SBTi is an internationally recognised partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It aims to mobilise the private sector to take the lead on urgent climate action and more than 1,000 businesses globally are now working with the SBTi to reduce their emissions.