Pictet

Pictet, a financial intermediary based in Switzerland, is actively addressing its carbon emissions and climate impact. For the fiscal year 2024, the company reported a significant total of approximately 93.9 billion kg CO2e. This figure is overwhelmingly composed of Scope 3 emissions, which accounted for roughly 93.9 billion kg CO2e, while Scope 1 and Scope 2 emissions collectively totalled about 2.2 million kg CO2e.

In the previous year, 2023, Pictet's total emissions stood at approximately 46.1 billion kg CO2e. Scope 3 emissions were the largest contributor at approximately 38.3 billion kg CO2e, followed by Scope 2 emissions at approximately 1.2 billion kg CO2e, and Scope 1 emissions at about 1.3 million kg CO2e.

Pictet has established ambitious climate commitments. The company aims to reduce its absolute Scope 1 and Scope 2 emissions by 55% by 2030, using 2019 as the baseline year. Furthermore, Pictet is committed to achieving net-zero emissions by 2050. Their portfolio targets, as of 2021, cover a significant portion of their total investment and lending activities, with various sources indicating coverage of either 56% or 34% of assets under management depending on the scope of assets considered. These targets have been validated by the Science Based Targets initiative (SBTi) as aligned with a 1.5°C warming pathway.

The emissions data for Pictet is cascaded from its parent organisation, Pictet & Cie Group SCA, at cascade level 1. This means that Pictet operates as a current subsidiary of Pictet & Cie Group SCA, and their initiative and performance data is inherited from this parent entity.