SOCIAL
GOVERNANCE
ENVIRONMENT
1.2 Act on our opera- tional carbon report In order to achieve the objectives set by our Group regarding the reduction of our carbon footprint, we proceed in three stages.
We also adopt a sustainable travel policy and promote rail travels and the use of digital collaborative tools such as video conferencing. Compensate Rothschild & Co has been offsetting its operational greenhouse gas emissions since 2019 through the purchase of carbon credits, centralized at the Group level and financed by the Internal Carbon Price . The amount generated by this compensation scheme is allocated to finance three action levers: sustainable aviation fuel certificates (SAF), natural and technological storage and capture solutions. Through the centralization of carbon credit purchases, Rothschild & Co has set a target to compensate 100% of its emissions through carbon sequestration solutions by 2030. In 2023, the purchase of sustainable aviation fuel certificates by our Group to offset emissions from business air travel resulted in a reduction of 1,012 tonnes of CO2eq (4) .
18,586.5
business travel impact on GHG emissions (tCO2eq)
14,067.7
Scope 3 (FE BEIS 2022) Scope 3 (FE BEIS 2023)
Source: Rothschild & Co, 31/12/2023
2023
Evaluate Each year, Rothschild & Co estimates its greenhouse gas (GHG) emissions globally and per employee.
Business travels represent 68% (2) of carbon emissions of Scope 3 and therefore take significant portion of emissions per employee. Rothschild & Co Asset Management contribution on GHG should be moderated, our operations require less business trips compared to other divisions of our Group that work more on cross border transactions. We are committed to shortly conduct and communicate GHG carbon footprint per FTE (3) exclusively for our division. Reduce Rothschild & Co is targeting to reduce operational GHG emis- sions by -30% between 2018 and 2030 following the Paris Agreement. This commitment implies on changing how we operate to reduce Scope 1 and Scope 2 emissions, at a Group level, by more than 80% , and our Scope 3 operational emissions by 24% per FTE by 2030. To encourage these efforts to reduce operational GHG emissions, Rothschild & Co has set an Internal Carbon Price (ICP) charged annually to all entities (set at €72 per tonne of CO2 for 2023 (2) ).
24,961.3
Emissions Total GHG emissions (tCO2eq (1) )
20,442.5
2023
Scope 1
Scope 2 Scope 3 (FE BEIS 2022)
Scope 3 (FE BEIS 2023)
Source: Rothschild & Co, 31/12/2023
Scope 1 & 2 aggregate direct GHG emissions at a Group level, as well as indirect emissions from energy consumed. Our offices’ energy consumption is regularly measured to determine and implement energy saving actions and procure low energy equipment. At the end of 2023, 91% of Rothschild & Co’s total office electricity came from renewable sources, with the goal to reach by the end of 2025 (2) .
Emissions by Rothschild & Co employees
4,4 tCO 2 eq
(2)
(1) The equivalent tonne of CO2 is a reference unit for the emissions of the various GHGs. (2) Source: Rothschild & Co, 29/12/2023. (3) Full time equivalent. Measure proportional to the number of hours worked over a year by a full time employee. Please refer to the methodological notes on the calculation of greenhouse gas emissions reductions related to SAF purchases in Appendix Section 4.9 of the Rothschild & Co Sustainability Report. (4) 2023 ICP based on the total volume of operational GHG emissions calculated using 2022 GHG emission factors from the UK Department for Enterprise, Energy and Industrial Strategy.
6
Rothschild & Co Asset Management - Rapport RSE - 2024
Made with FlippingBook Learn more on our blog