Climate change is already affecting businesses, communities and the wider economy, with more frequent and severe events such as flooding, wildfires and extreme heat, alongside changing regulation and reporting requirements and shifts in how organisations manage risk and plan for the long term.
At Saffery, we know we have a responsibility to play our part in reducing emissions and supporting the transition to a lower-carbon future.
Taking action matters to our colleagues and clients and supports global efforts to limit warming. That is why we are working to reduce the greenhouse gas emissions linked to our operations and value chain. Our net zero targets give us a clear, measurable pathway for change — helping us make better decisions today while supporting the long-term resilience of our business.
“Setting net zero targets is an important milestone for Saffery. They give us a clear direction for reducing our environmental impact, making more informed decisions across the firm, and focusing our efforts on the practical changes needed to reduce our emissions.” Darren Drake, Managing Partner
Our ambition
To help shape our ambition, we have worked with Ecologi to measure our carbon footprint, model future emissions reductions and set absolute emissions targets that are aligned to the Science Based Targets initiative (SBTi) requirements and with climate science. This has given us a clearer view of where our emissions come from, and the level of action needed to reduce them over time.
Using 2024 as our baseline year, we aim to:
- Reduce Scope 1 and 2 emissions by 76% by 2034
- Reduce Scope 3 emissions by 43% by 2034
- Achieve net zero across Scopes 1, 2 and 3 by 2050
Our long-term target means reducing emissions across all scopes by at least 90%, before addressing any residual emissions. Carbon credits would only be used for residual emissions that cannot practicably be reduced further and would need to meet high quality standards, with appropriate due diligence and ongoing monitoring.
Our carbon footprint
Our total 2024 emissions were 6,573.95 tonnes of carbon dioxide equivalent (tCO₂e):
- Scope 1: 26.94 tCO₂e — 0.41%
- Scope 2: 170.35 tCO₂e — 2.59%
- Scope 3: 6,376.66 tCO₂e — 97%
Our largest Scope 3 sources were purchased goods and services, employee commuting and business travel, making them central to our reduction plan.
How we will reduce our emissions
Scope 1 and 2:
Powering our offices responsibly
We will develop a clear transition towards 100% renewable electricity, prioritising the offices responsible for the greatest energy use. We will also explore lower-carbon refrigerants and improve the way we monitor energy consumption.
Scope 3:
Working with our suppliers
Purchased goods and services represent our largest source of emissions. We will improve the quality of our data by moving from spend-based estimates towards supplier-specific information.
We will engage key suppliers to understand their climate commitments and encourage them to establish and deliver credible emissions-reduction plans. We will also review purchasing decisions and seek to reduce emissions associated with goods, services and events.
Reducing business travel emissions
We will support the transition from fossil-fuelled vehicles to electric alternatives and encourage rail travel instead of flying where practical. Better mileage and journey data will help us understand our impact and make more informed travel decisions.
Supporting lower-carbon commuting
Although commuting choices are not entirely within our control, we can encourage colleagues to choose lower-carbon options. This includes promoting electric vehicles, cycling and public transport through relevant workplace initiatives, information and education.
“Ecologi has had the pleasure of working with Saffery to develop ambitious, credible emissions reduction targets through emissions scenario modelling and ongoing carbon accounting. Together, Ecologi and Saffery have explored the key levers across the business that can be activated to achieve these targets.” Emily Tradd, Head of Client Relations, Ecologi
Measuring, reporting and governance
We will measure our emissions annually and monitor progress against our baseline. As our business grows and our data improves, we will review the assumptions underpinning our pathway and explain material changes transparently.
Our Leadership Board and Management Board approved our net zero targets and high-level reduction plan. Progress will be monitored regularly by the Responsible Business team, with updates provided through our internal governance structures and reported externally through our annual Responsible Business Report and website.
We will provide updates on this page, including sharing a more detailed transition plan.
Reaching net zero is a long-term commitment and one that will require action from across the firm. Reducing emissions is essential, and our target will help keep us focused on the practical changes needed to make sustained progress over time.
For any queries, please get in touch with the team: [email protected]