Our Net Zero Commitment

Road to Net Zero Emissions

Read Road to Net Zero Emissions to find out more about our action plan to reduce our Scope 1 & 2 emissions to net zero by 2030.

Tackling greenhouse gas emissions has become an urgent challenge. At discoverIE, we contribute to the transition to a low carbon economy both through our products helping others to reduce their emissions and through our operations by reducing our own.

Since 2019, we have reduced our carbon emission intensity by around 40%. In alignment with the UN Paris Agreement goal of limiting the rise in the average global temperature to 1.50C, we announced in November 2022 our commitment to become a net zero emissions business.

We have set a science-based target to achieve net zero emissions for Scope 1 & 2 by 2030 and for Scope 3 by 2040, and have published our transition plan to achieve the first phase of this goal – net zero emissions for Scope 1 & 2 by 2030.

 

Net zero for Scope 1 & 2

The Group’s total Scope 1 & 2 emissions in 2021 was 7,745 tCO2e, of which 95% were from four sources: electricity, natural gas, company cars, and refrigerants.

Emissions by Source graph

Our net zero plan focuses on addressing these four emission sources by reducing and replacing as much as possible, and removing the residual emissions by investing in carbon removal projects.

Reduce Replace Remove Action and Milestones

Our near-term goal is to reduce total Scope 1 & 2 emissions by 30% by the end of 2023, 65% by the end of 2025 and 95% by 2030. The remaining emissions that cannot be removed will be neutralised through investing in carbon removal projects. This will ensure we remain focused on reducing emissions as much as possible before resorting to carbon offsets.

Net Zero chart

Acquisitions

Given the acquisitive nature of discoverIE, we take a proactive approach by incorporating emission-related questions into the due diligence process so emission sources can be identified early and plans can be drawn up in advance. This will help to shorten the time required to achieve net zero emissions for acquired businesses, which form a significant part of our growth strategy.

Net zero for Scope 3

The Group is currently undertaking a full screening of its Scope 3 emissions, which is expected to complete in early 2024. A detailed reduction plan to achieve the SBTi-aligned target will be announced and submitted to SBTi for approval thereafter.