BDO commits to new Net-Zero targets
BDO commits to new Net-Zero targets
Accountancy and business advisory firm BDO has announced its transition to Net-Zero roadmap, which includes a commitment to a near-term target of 2030. This will require the firm to halve its total carbon emissions from a baseline year of 2020.
Building on its current carbon-neutral status, BDO has submitted both a near-term target (2030) and a long-term target (2050) for review by the Science Based Targets initiative (SBTi) Net-Zero Standard. The SBTi’s science-based targets are set specifically in line to achieve the goal of limiting global warming to below 1.5°C.
BDO’s Net-Zero roadmap focuses initially on three action areas to 2030:
‘How we work’, including renewable energy in their offices, Net-Zero criteria in their property strategy, and educating partners and employees on carbon-efficient ways of working
‘How we travel’, including the design of a new carbon-smart travel policy to reduce emissions from business travel by 40%
‘How we buy’, including 80% of BDO’s suppliers by spend to have science-based Net-Zero targets by the end of 2028.
The firm has also committed to remain carbon neutral for its operational emissions as it works to transition to be a Net-Zero business.
BDO UK’s announcement aligns with BDO’s global plans for its international network of member firms to become Net-Zero by 2050, announced at last year’s COP26 event as part of the wider GFANZ commitment (Glasgow Financial Alliance for Net Zero).
The UK firm’s transition to Net-Zero will be overseen by a newly-formed Decarbonisation Steering Committee, chaired by Finance Partner, Stuart Collins. The decarbonisation programme will address the firm’s Environmental impact; the ‘E’ in ESG. The firm has been reporting on its carbon footprint for over 10 years, with the aim over that time to reduce its environmental impact each year. It became carbon-neutral across all UK offices in 2020.
Matt White, BDO’s Senior Partner and co-chair of its ESG Board, commented:
“The transition to Net-Zero is simple and urgent in concept but complex and long-term in practice.
"Change of this scale does not happen overnight – but we know it needs to happen now. This starts with our three action areas to halve our emissions by 2030, which involves not just our own operational emission reduction but also that of our supply chain.
“To reach our targets, we will need to take a number of steps. This involves working with our supply chain to reduce their emissions, running our buildings on renewable energy, reducing unnecessary business travel and choosing lower carbon travel options where travel is required. Like all businesses, we’ll be a ‘work in progress’ for some time – but the important word is ‘progress’.”
Note to editors
Accountancy and business advisory firm BDO LLP provides integrated advice and solutions to help businesses navigate a changing world.
The organisations we work with are Britain’s economic engine –entrepreneurially-spirited, high-growth businesses that fuel the economy.
We understand the ambitions and entrepreneurial mindset of those we work with and have the global reach, integrity and expertise to help people and businesses succeed.
BDO LLP operates in 18 offices across the UK, employing 7000 people offering tax, audit and assurance, and a range of advisory services. BDO LLP is the UK member firm of the BDO international network.
BDO’s global network
The BDO global network provides business advisory services in 164 countries, with 95,000 people working out of 1,713 offices worldwide. It has revenues of $11.8bn.