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The new EY environment strategy charts our path to net zero and nature positive. Our Environment Report shares our progress. Learn more.
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Our progress
In January 2021, the EY organisation announced a global science-based decarbonisation target of reaching net zero in 2025 with a 40% reduction in our absolute Scopes 1, 2 and 3 greenhouse gas (GHG) emissions against the FY19 baseline, based on the relevant standards and definitions at that time.
In response to this goal, Ernst & Young LLP ('EY UK') developed specific emissions reduction targets and a UK strategy comprising six key actions critical to achieving net zero.
Evolving the global carbon ambition of the EY organisation
The actions the EY organisation has taken since FY21 have delivered progress, integration and innovation. From decarbonisation and energy efficiency to expanded reporting, enabling technology and investing in our skills and services, the legacy of the first phase of this carbon ambition will be how it has embedded sustainability in the wider growth and evolution of our organisation for the long term.
Building on recent progress, the EY organisation is currently undertaking a planned five-year review of the scope and pathway for the strategy to align with updated standards. During FY25, we will publish an updated EY Environment Strategy encompassing a science aligned decarbonisation plan, including near- and long-term targets and plans to assess our impact on nature and biodiversity. The next five years are crucial to secure the progress on climate and nature needed by 2030, which will underpin a longer-term stable, affordable and equitable transition. The EY organisation is committed to playing its part in translating ambition to action, in our business, with our people and in wider society.
Investing in the power of renewables
We began procuring renewable electricity for our UK offices in 2007 and, in 2019, we switched from natural gas to renewable biogas. But our carbon ambition drove us to seek new opportunities to create long-term sustainable value for our communities and planet.
In December 2020, EY UK announced a 10-year zero carbon Power Purchase Agreement (PPA). This long-term commitment significantly contributed to the commercial viability of constructing a new solar power station project based in Norfolk, by providing certainty of revenue at a fixed price for 10 years.
Thornham Solar Farm went online in October 2021, generating Renewable Energy Guarantees of Origin (REGOs) enabling 100% of EY UK’s electricity consumption to be backed by renewables certification. And our PPA contributes to the wider decarbonisation of the electricity generation sector, by adding more renewable electricity to the grid than we consume.