MGAC | RLF can demonstrate a comprehensive understanding, practical experience and committed responsibility for environmental sustainability. MGAC | RLF’s own environmental, sustainability and carbon emission reduction commitments are encapsulated in our ISO14001 accreditation, Corporate Responsibility Policy and this Carbon Reduction Plan.
These plans include specific initiatives and measures that fall under the following headings;
We have a commitment to achieve Net Zero Carbon with specific plans for Scope 1, 2 and 3 emissions and full carbon neutrality by 2050.
This Carbon Reduction Plan is the first version to be compiled by MGAC | RLF and has been completed in accordance with PPN 06/21 and associated guidance and reporting standards for Carbon Reduction Plans.
Provisional estimated baseline emission levels have been proposed, pending a full assessment and review of this plan that will occur as part of the launch of our new Environmental, Social, and Corporate Governance Plan in May 2022. Progress against these continuous improvement targets will be constantly reviewed and will be externally audited once a year as part of our ISO14001 accreditation. Our provisional baseline emissions have been estimated as follows;
Baseline Year: 2021
EMISSIONS TOTAL (tCO2e)
In order to continue our progress to achieving Net Zero, we have adopted the following carbon reduction targets. We provisionally project that our carbon emissions will decrease over the next five years to a total of 1,360 tCO2e by 2026. This is a target reduction of 20%.
As an organisation our Carbon dioxide emissions emanate from a limited number of sources, namely the servicing and heating/cooling of our offices (all lease properties), travel activities of the firm and its staff and the activities of our suppliers.
In order to achieve our Net Zero targets, we acknowledge that we may have to invest in carbon offsetting projects. We have identified organisations and projects that provide genuine carbon
reduction initiatives, but our priority remains to reduce our business’s carbon emissions wherever possible and these carbon offsetting projects will only ever be supplementary to our core plans.
The following management measures and projects have recently been completed or implemented as part of our commitment to environmental sustainability and carbon emission reductions.
This is the first year of recording our carbon emission data, and our next calculations will take place in May 2022. We continue to obtain data and engage with our supply chain in order to quantify further the specific emission levels and refine our methods of measurement. The carbon emission reduction achieved by these schemes compared to the baseline data will be recorded and reported as part of our annual report in accordance with PPN 06/21.
Year 1: 2021/22 emissions:
EMISSIONS TOTAL (tCO2e)
Emissions will be reported and recorded in accordance with the published reporting standards for Carbon Reduction Plans and the GHG Reporting Protocols.
This Carbon Reduction Plan has been reviewed and signed off by the Directors of MGAC | RLF and will be published via our website.
Date: 19 November 2021