Ricardo plc, commonly known as Ricardo, is a leading engineering consultancy headquartered in the United Kingdom. Founded in 1915, the company has established a strong presence in key operational regions including Europe, North America, and Asia. Specialising in the automotive, rail, and energy sectors, Ricardo offers innovative solutions in engineering, environmental consultancy, and product development.
With a commitment to sustainability and efficiency, Ricardo's core services include advanced vehicle engineering, powertrain development, and emissions reduction strategies. The company is recognised for its pioneering work in low-carbon technologies and has achieved notable milestones, such as significant contributions to the development of electric and hybrid vehicles. As a trusted partner in the industry, Ricardo continues to enhance its market position through cutting-edge research and a focus on delivering unique, high-quality services.
+38 vs industry average
Ricardo’s score of 63 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Other Services has below-average carbon intensity
Industry performance
The Other Services industry has reduced its overall emissions by 5% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Ricardo's reported carbon emissions
Ricardo PLC, headquartered in the UK, is actively engaged in reducing its carbon footprint. For the reporting year 2024, Ricardo reported total emissions of approximately 139.6 million kg CO2e. This breaks down into about 2.7 million kg CO2e for Scope 1 emissions and approximately 3.6 million kg CO2e for Scope 1 and 2 emissions (market-based). Scope 3 emissions were substantial, accounting for approximately 136 million kg CO2e, with purchased goods and services and the use of sold products being the largest contributors. Looking at previous years, Ricardo's total emissions in 2023 were approximately 160.6 million kg CO2e, with Scope 1 at about 2.8 million kg CO2e and Scope 3 at roughly 157.1 million kg CO2e. In 2022, total emissions were around 105.2 million kg CO2e, comprising about 3.8 million kg CO2e for Scope 1 and approximately 100.7 million kg CO2e for Scope 3. Emissions data for 2021 indicated total emissions of about 3.7 million kg CO2e (Scope 1 and 2 combined), with Scope 1 at approximately 2.4 million kg CO2e and Scope 2 (market-based) at about 3.2 million kg CO2e. Scope 3 data was not reported for 2021. In 2020, total emissions (Scope 1 and 2 combined) were approximately 10.3 million kg CO2e, with Scope 1 at around 4.3 million kg CO2e and Scope 2 (market-based) at about 2 million kg CO2e. Ricardo has set ambitious climate commitments. The company has near-term targets to reduce Scope 1 emissions by 15% and Scope 2 emissions by 85% by 2025. Furthermore, Ricardo is working towards a 2025 net-zero goal, with plans to adjust its baseline year in FY 2024/25. More broadly, Ricardo has committed to Science Based Targets (SBTi). This commitment includes reducing absolute Scope 1 and 2 GHG emissions by 46.2% by FY2030/31 from a FY2019/20 base year. They also aim to increase the annual sourcing of renewable electricity from 74% in FY2019/20 to 90% by FY2025/26. Ricardo has also committed to reducing absolute Scope 3 GHG emissions by 27.5% by FY2030/31 from a FY2019/20 base year. These targets are consistent with reductions required to keep warming to 1.5°C. The company also has long-term net-zero commitments. The emissions data for Ricardo is directly reported by the organisation.
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Ricardo’s Climate Goals (2030 & 2050)
2 goals2025
During FY 2024/25 we will adjust our baseline year for all s…
During FY 2024/25 we will adjust our baseline year for all scopes using FY 2024/25 data, and use this to update our targets and initiatives…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
11 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
Inherited from WSP Global Inc.
RE 100
Climate Action 100
Emissions comparison with industry peers
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Ricardo
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Common questions about Ricardo’s sustainability data and climate commitments
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