Derwent London

Derwent London, a UK-based financial intermediation services company, has reported its carbon emissions and set ambitious climate commitments.

In 2023, Derwent London's Scope 1 emissions were 4,364,000 kg CO2e, Scope 2 emissions (market-based) were 29,000 kg CO2e, and Scope 3 emissions totalled 8,010,000 kg CO2e. This includes 799,000 kg CO2e from capital goods, 58,000 kg CO2e from business travel, 110,000 kg CO2e from employee commute, 5,517,000 kg CO2e from downstream leased assets, 36,000 kg CO2e from purchased goods and services, and 1,411,000 kg CO2e from fuel and energy related activities.

Looking back, in 2022, Scope 1 emissions were 3,062,000 kg CO2e, Scope 2 emissions (market-based) were 36,000 kg CO2e, and Scope 3 emissions were 38,733,000 kg CO2e, including 32,869,000 kg CO2e from capital goods. In 2021, Scope 1 emissions were 3,185,000 kg CO2e, Scope 2 (market-based) emissions were 55,000 kg CO2e, and Scope 3 emissions reached 9,256,000 kg CO2e. For 2020, Scope 1 emissions were 3,326,000 kg CO2e, Scope 2 (market-based) emissions were 0 kg CO2e, and Scope 3 emissions were 27,539,000 kg CO2e. In 2019, Scope 1 emissions were 4,650,000 kg CO2e, Scope 2 emissions (location-based) were 2,925,000 kg CO2e, and Scope 3 emissions totalled 11,809,000 kg CO2e.

Derwent London has set near-term Science Based Targets initiative (SBTi) approved targets to reduce Scope 1 and 2 GHG emissions by 42% by 2030 from a 2022 base year. They also commit to reach net-zero emissions by 2040, which includes reducing Scope 1, 2, and 3 emissions by 90% by 2040 from a 2022 base year. Additionally, Derwent London aims to achieve an annual reduction in energy intensity of its managed portfolio to 90 kWh/sqm by 2030.

Earlier commitments, also approved by SBTi, included reducing Scope 1 and 2 GHG emissions by 55% per square metre by 2027 from a 2013 base year, and Scope 3 GHG emissions by 20% per square metre by 2027 from a 2017 base year. The Group reports annually on its progress towards net-zero by 2030.