Ricardo

Ricardo, a UK-headquartered company in the "Other services (93)" industry, reported total carbon emissions of approximately 139,633 metric tons CO2e in 2024. This figure includes about 2,725 metric tons CO2e from Scope 1 emissions, 914 metric tons CO2e from Scope 2 emissions (market-based), and approximately 135,994 metric tons CO2e from Scope 3 emissions. A significant portion of its Scope 3 emissions in 2024 stemmed from purchased goods and services, accounting for around 124,699 metric tons CO2e, and the use of sold products, contributing about 40,097 metric tons CO2e.

Looking back, Ricardo's total emissions in 2023 were approximately 160,624 metric tons CO2e, comprising about 2,845 metric tons CO2e from Scope 1, 637 metric tons CO2e from Scope 2 (market-based), and approximately 157,142 metric tons CO2e from Scope 3. In 2022, the company's total emissions were around 105,186 metric tons CO2e, with Scope 1 at about 3,822 metric tons CO2e, Scope 2 (market-based) at 618 metric tons CO2e, and Scope 3 at approximately 100,746 metric tons CO2e.

Ricardo has made several climate commitments. It has Science Based Targets initiative (SBTi) approved targets, cascaded from Ricardo plc, to reduce absolute Scope 1 and 2 GHG emissions by 46.2% by FY2030/31 from a FY2019/20 base year. Additionally, Ricardo commits to increasing its annual sourcing of renewable electricity from 74% in FY2019/20 to 90% by FY2025/26. The company also aims to reduce absolute Scope 3 GHG emissions by 27.5% by FY2030/31 from a FY2019/20 base year. Ricardo also aims for net-zero by 2050 for Scope 1, 2, and 3 emissions. Furthermore, the company stated a goal to adjust its baseline year for all scopes using FY 2024/25 data to update targets and initiatives in line with the 2025 net zero goal set out in the UN Paris Agreement.