io’s net zero journey, an update for COP26
Friday, 29 October 2021
Sustainability is at the core of io’s operations. We recognise that we co-exist in a system, and to halt climate risks the whole economy needs to act together with haste.
Our approach is two-fold; Firstly, we are bringing our expertise to help solve the problems the world faces; since 2018 io has developed several energy transition capabilities and services which in 2021 has resulted in over 60% of our business engagements being in the energy transition space. We offer our clients solutions and services to help them achieve their own low carbon ambitions.
Secondly, with regards to our operations, io publicly made its climate change pledge in Jan 2021, where we committed to achieving Net Zero emissions by 2050 with an interim ambition to reduce our Scope 3 emissions by 50% by 2030.
Since io has no scope 1 or 2 emissions our focus has been to reduce scope 3. To this end, our pledge has been made against SBTi ambition 3, the most stringent ambition which uses the best climate science to limit global temperature rise to well below 2 °C above pre-industrial levels & pursuing efforts to limit the temperature increase even further to 1.5°C. This requires io to achieve a linear annual reduction of emissions by 4.2% from our 2019 base year.
Our carbon reduction strategy has been formulated to cut emissions from our existing operations and avoiding generating more whilst considering our planned business growth. Actions to mitigate carbon from our operations include the following measures:
1) Our biggest contributions to Scope 3 are associated with business travel where the following measures were applied:
a) setting a financial and carbon budget for business travel.
b) reducing the number of project related flights through maximising use of virtual meetings.
c) eliminating all corporate meeting business travel.
2) Measurement of employee commuting patterns resulting in:
a) mandating a hybrid work pattern with part time working from home therefore reducing employee commuting; and
b) incentives such as Cycle-2-Work schemes to encourage greener methods of transportation when travelling to the office.
3) Ensuring power purchase agreements to our offices are from 100% renewable sources.
4) Improved measurements and reporting of carbon associated with deliveries to the office.
5) Initiatives to better improve carbon optics so adjusted can be made in time and not retrospectively.
Although 2020 was an unprecedented year with COVID restrictions, taking these measures have resulted in io's carbon emissions reducing by 75%. And as we move into 2022, with these measures in place and close monitoring of travel, we will realise our ambitious carbon pledge. Our Climate Pledge is published here climate pledge.
Our climate commitment was assessed, approved and commended by STBi in July 2021, and listed here.