Pennon

Pennon's reported carbon emissions

Pennon, a UK-based real estate services company, reported a total of approximately 368.3 million kg CO2e for the year 2024. This figure is comprised of approximately 26.7 million kg CO2e in Scope 1 emissions and approximately 25.7 million kg CO2e in Scope 2 emissions (market-based). Scope 3 emissions accounted for the largest portion, at approximately 315.9 million kg CO2e. In 2023, Pennon's total emissions were approximately 299.7 million kg CO2e, with Scope 1 emissions at approximately 28.8 million kg CO2e, Scope 2 (market-based) at approximately 31.3 million kg CO2e, and Scope 3 emissions at approximately 239.7 million kg CO2e. Pennon has established ambitious climate commitments. The company aims to achieve Net Zero by 2030, aligning with the UN-backed Race to Zero commitment, which targets greenhouse gas (GHG) emissions across its entire value chain by 2045. Specifically, Pennon commits to reducing absolute Scope 1 and Scope 2 GHG emissions by 68% by FY2032/33 from a FY2021/22 base year. Furthermore, they commit to reducing absolute Scope 3 GHG emissions from various categories, including fuel and energy-related activities, waste, business travel, and commuting, by 30% over the same timeframe. A significant initiative involves ensuring that 60% of their suppliers, covering purchased goods and services, capital goods, and upstream transportation and distribution, will have science-based targets by FY2027/28. In previous reporting years, Pennon's total emissions were approximately 402.4 million kg CO2e in 2022, approximately 234.2 million kg CO2e in 2021, and approximately 2.7 billion kg CO2e in 2020. Historically, Pennon has also reported significant reductions in Scope 1 and Scope 2 emissions, with a notable decrease of approximately 45.2% reported against their Net Zero 2030 emission boundary for Scope 1, Scope 2, and selected Scope 3 operational emissions within the regulated businesses.