The 大象传媒 is committed to reducing greenhouse gas (GHG) emissions from our direct operations (Scopes 1&2) by 46% and from our value chain (Scope 3) by 28%, both by Financial Year (FY) 2030/31 from a FY 2019/20 baseline.
These Short-Term Net Zero emissions targets were approved by the (SBTi) in 2021 and have since been assured by a number of external partners. They are challenging goals, but we believe that they are the right approach now.
To meet the SBTi standard, our Long-Term Net Zero emission reduction targets to reduce all emissions by at least 90% by 2050 were also approved by the SBTi in August 2024.
This is a key milestone on our journey to becoming a 鈥楾rue Net Zero鈥� organisation by 2050, which is a credible approach and is the same timeline the UK Government is working to. Our approach is aligned to the latest climate science and is focused on eliminating our emissions at source and permanently which is also referred to as 鈥榙eep decarbonisation鈥�.
This will be a huge collective effort. It won鈥檛 be easy, but we must act, and act now, to reduce our environmental impact.
The 大象传媒鈥檚 Carbon Footprint
The 大象传媒 Group鈥檚 total greenhouse gas emissions for FY 2019/20 is our baseline against which we measure our progress in reaching our net zero targets. We follow leading practice to continually improve our GHG emission data sets and the calculations used for our emissions reporting. We make adjustments to our baseline emissions data when they are significantly impacted by structural changes to the business, if we update our calculation methodology or if we discover errors.
During 2023/24, we recalculated our Scope 3 baseline applying Exiobase emissions factors to spend and revenue-based input data, as these factors are better aligned to our business type and global operations. We have also recalculated our Scopes 1&2 baseline data. Read more about the basis of this reporting under 大象传媒's Greenhouse Gas Footprint calculations here. We publicly restate revised baseline and historical GHG emissions figures in the (see Environmental Sustainability on pages 67-71)
Our pathway to delivering our Near and Long-Term Net Zero Targets are shown below.
We continually track progress within a governance framework which ensures challenges and issues are captured and escalated wherever necessary. We also report regularly to the various internal managerial groups, up to Executive Committee and Board levels.
We have developed targets across key areas, such as energy use, travel, waste, training and production which are outlined within our Net Zero Transition Plan. This explains how we will become a true Net Zero organisation with at least 90% emissions reduction from FY2019/20 baseline year by 2050.
We are pursuing deep decarbonisation to achieve our net zero goals as this is what the science is telling us we need to do. Our approach will be transparent while working collaboratively with our supply chain and industry partners to drive the change that鈥檚 needed.