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Ricardo plc, commonly known as Ricardo, is a distinguished global engineering and environmental strategic consultancy headquartered in the United Kingdom. Established in 1915 by Sir Harry Ricardo, the company leverages over a century of expertise to address complex challenges across critical sectors.
Specialising in sustainable transport, energy, defence, and environmental solutions, Ricardo offers comprehensive services from strategic consulting and product engineering to software development, testing, and manufacturing. Their integrated approach supports clients in achieving net-zero targets and delivering innovative, clean energy technologies.
As a trusted strategic advisor with a global presence, Ricardo drives decarbonisation and develops cutting-edge digital solutions. The company's pioneering spirit and deep technical knowledge position it at the forefront of advanced engineering and environmental insights across Europe, North America, and Asia.
62
DitchCarbon score
+37 vs industry average
Ricardo’s score of 62 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
Medium
Other Services has typical carbon intensity
Industry performance
0.200
20182025
The Other Services industry has reduced its overall emissions by 37% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Ricardo's reported carbon emissions
Ricardo's total reported carbon emissions for 2024 were approximately 139.6 million kg CO2e. This figure includes about 2.7 million kg CO2e from Scope 1 emissions, 914,000 kg CO2e from market-based Scope 2 emissions, and approximately 136.0 million kg CO2e from Scope 3 emissions.
Ricardo has set Science Based Targets initiative (SBTi) approved targets to reduce its greenhouse gas emissions. The company commits to reducing absolute Scope 1 and 2 GHG emissions by 46.2% by FY2030/31 from a FY2019/20 base year. Additionally, Ricardo aims to increase its annual sourcing of renewable electricity from 74% in FY2019/20 to 90% by FY2025/26. Ricardo also commits to reducing absolute Scope 3 GHG emissions by 27.5% by FY2030/31 from a FY2019/20 base year. The targets covering Scope 1 and 2 emissions are consistent with reductions required to keep warming to 1.5°C.
Looking back, Ricardo's total emissions for 2023 were approximately 160.6 million kg CO2e, with Scope 1 at about 2.8 million kg CO2e, market-based Scope 2 at 637,000 kg CO2e, and Scope 3 at approximately 157.1 million kg CO2e. In 2022, total emissions were approximately 105.2 million kg CO2e, comprising around 3.8 million kg CO2e from Scope 1, 618,000 kg CO2e from market-based Scope 2, and approximately 100.7 million kg CO2e from Scope 3. For 2021, total emissions were approximately 3.7 million kg CO2e, including about 2.4 million kg CO2e from Scope 1 and 3.2 million kg CO2e from market-based Scope 2. In 2020, total emissions were approximately 10.3 million kg CO2e, with Scope 1 at about 4.3 million kg CO2e and market-based Scope 2 at 2.0 million kg CO2e. No emissions data is available for 2018, 2017, and 2016.
Ricardo's reduction targets for 2025 include a 15% reduction for Scope 1 emissions and an 85% reduction for Scope 2 emissions, based on a 2022 baseline year. The company is also committed to a net-zero goal by 2025, in line with the UN Paris Agreement, and will adjust its baseline year for all scopes during FY 2024/25 using FY 2024/25 data to update these targets. All climate commitments and emissions data are cascaded from Ricardo plc.
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Ricardo’s Climate Goals (2030 & 2050)
3 goals2030
46.2% reduction in Scope 1
Ricardo commits to reduce absolute scope 1 and 2 GHG emissions 46.2% by FY2030/31 from a FY2019/20 base year. Ricardo commits to increase an…
At risk46.2%
2030
46.2% reduction in Scope 2
Ricardo commits to reduce absolute scope 1 and 2 GHG emissions 46.2% by FY2030/31 from a FY2019/20 base year. Ricardo commits to increase an…
Behind target46.2%
2030
27.5% reduction in scope 3 total
Ricardo commits to reduce absolute scope 1 and 2 GHG emissions 46.2% by FY2030/31 from a FY2019/20 base year. Ricardo commits to increase an…
Insufficient data27.5%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
11 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
FY2031 targetSee details
Active
Carbon Disclosure Project
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Active
The Climate Pledge
See details
Not active
UN Global Compact Climate Champions initiative
Inherited from WSP Global Inc.See details
Not active
RE 100
See details
Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Ricardo2 months ago
62
DEAutomatic Environmental Control Manufacturing for Residential, Commercial, and Appliance UseView
3 hours ago
100
Frequently asked questions
Common questions about Ricardo’s sustainability data and climate commitments
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