M Group Services has signed a letter of intent to cut down its carbon emissions, supporting the Science Based Targets initiative.
Following the announcement of M Group Services’ leading ESG (Environment, Social & Governance) rating in February, we are pleased to report the Board has committed to join the Science Based Targets initiative (SBTi), supporting efforts to limit global warming to 1.5°C and cut carbon emissions.
The SBTi targets provide a clearly defined pathway for businesses to reduce their greenhouse gas emissions, helping prevent the worst impacts of climate change and future-proof business growth. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero before 2050.
This commitment from M Group Services is one of many actions being taken to act on the results of its ESG rating and enhance the Group’s environmental sustainability. As part of this process, M Group Services will begin to develop and implement near-term science-based emissions reduction targets. Following successful completion of a near-term target, M Group Services will establish a long-term SBTi net-zero target.
These targets will focus on a reduction across all three scopes of greenhouse gas emissions. Emission categories are represented by three scopes of greenhouse gas (GHG) sources, as defined by the internationally adopted standard on corporate reporting developed by the GHG Protocol. Scope 1 covers the Group’s direct emissions, for example emissions of company vehicles. Scope 2 includes all energy-related indirect emissions, such as purchased electricity. Scope 3 emissions are those generated from the Group’s value chain, for example when buying products from suppliers.
Andrew Hunt, Director of ESG & Innovation at M Group Services, said: “Carbon reduction is fundamental to the sustainability of both our business, and our shared natural environment. Setting clear and achievable science-based targets will provide a pathway to achieving this. We are pleased to announce our commitment to set clear science-based targets to reduce our carbon output and support our clients’ growing carbon reduction ambitions. We are confident these targets will leave positive, lasting effects on our environment, people and communities.
“Throughout this target setting process, our team of experts will be working with all M Group Services operating businesses to assess how the carbon output of all our operations can be minimised. We are also teaming up with EcoAct, an Atos company, an international climate consultancy and project developer whose expertise will support the formulation of our targets. This collaboration with our colleagues across the Group and our partners such as EcoAct will be invaluable as we identify areas in which our carbon emissions can be cut down.”