- Targets 50% carbon reduction in Scope 1 emissions by 2032, 100% renewable electricity use by 2030 and 58% reduction in Scope 3 emissions by 2032
- Broadstone becomes first of its peer group to have targets approved by SBTi
Broadstone, a leading independent pensions, employee benefits, investments and insurance consultancy, has committed to setting near-term, science-based emissions reduction targets.
It becomes the first consultancy of its peer group to have its targets approved by the Science Based Targets initiative (SBTi), joining the global movement for ambitious corporate decarbonisation in recognition of the urgency of climate action.
Broadstone has committed to the following targets:
- Reduce scope 1 GHG emissions 50.4% by FY2032 from a FY2023 base year;
- Increase active annual sourcing of renewable electricity from 63% at FY2023 base year to 100% by FY2030;
- Reduce scope 3 GHG emissions from fuel and energy-related activities, business travel and employee commuting 58.1% per full time equivalent employee (FTE) by FY2032 from a FY2023 base year.
These targets demonstrate Broadstone’s recognition of the importance of rapid and deep emission cuts across its business, offices and employees.
The latest climate science shows it is still possible to limit global temperature rises to 1.5°C but deep emission cuts are crucial, hence the need to halve global emissions by 2030 and reach net-zero by 2050.
Tony Gusmao, Chief Executive Officer of Broadstone, commented: “Delivering sustainable outcomes is core to Broadstone’s mission of empowering people’s prosperity. The science-based approval of our carbon emission reduction targets is evidence of our commitment to driving positive change across our business and for our clients. We aim to lead our sector in measuring, offsetting and cutting our emissions to reduce our impact on the environment we need to protect.”
Matthew Downey, Senior Investment Consultant and Broadstone sustainability lead, said: “The approval of our SBTi targets validates our strategy of tracking, tackling and reducing our impact on the environment. It demonstrates that our strategy is in line with global efforts to limit global temperature rises and we look forward to delivering against these objectives.”
