Page 10 | RPIA SUSTAINABILITY REPORT 2024
SUSTAINABILITY
OVERVIEW
ESG INTEGRATION
CULTURE & VALUES
MEASURING OUR CLIMATE IMPACT RPIA acknowledges that our activities as an employer and an investment manager have an impact on climate. As part of our sustainability strategy, we are committed to acknowledging, addressing and, to the best of our abilities, mitigating this impact. As part of our ongoing education related to our climate impact, we recognize that understanding the sources of our greenhouse gas (“GHG”) emissions is a key step in addressing and setting impactful goals for mitigation and, where possible, reduction. In 2024, we continued our partnership with BMO Radicle to update our GHG inventory and to review and assess our plans for mitigation and reduction. Important components of our efforts in 2024 include the implementation of energy consumption reminders and the purchase of offsets. By completing all component parts of the BMO Radicle Climate Smart program in 2024, we received Radicle’s Climate Smart Certification. The activities captured covered emissions for the fiscal period of 2024: Scope 1: Office natural gas consumption Scope 2: Office electricity use Scope 3: Office waste management, business travel (air/rail travel, hotels, taxis/ Ubers/Lyfts), daily employee commuting, paper consumption, and heat/electricity from work-from-home RPIA emitted a total of 116.5 tonnes of greenhouse gases in FY2024, most of which resulted from Scope 3 emissions. More specifically, our largest emissions contributors include staff commuting, business travel (road, air, and accommodation), and heating. Although this represents a ~35% increase from our total emissions reported in FY2023, the change reflects our growing team and the return of more frequent business travel. We continue to operate with a hybrid working model with employees commuting into the office from across the Greater Toronto Area. Our Scopes 1 and 2 emissions continue to remain steady year after year; however, we expect that to change in the future as we acquire more office space to meet our needs.
GHG Inventory Results
GHG Emissions (tCO 2 e*)
100 120 140
116.5
103.6
86.1
79.7
71.3
0 20 40 60 80
24.7
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Scope 1
Scope 2
Scope 3
Total
Heat/electricity from WFH (scope 3) was a newly introduced category in FY2022 and was therefore not accounted for in previous years. Excluding this, our emissions are in line with 2019 and 2020 levels despite our workforce having grown significantly since then. RPIA’s current emissions inventory does not include certain Scope 3 categories (as defined by the GHG Protocol), including Category 15: Investments. RPIA will continue to evaluate our ability to do so in the future.
Scope 3 Transportation Breakdown FY2024 (tCO 2 e)
35
42.9
7.6
Air and rail travel
Passenger vehicle travel
Employee commuting
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