Ricardo

Ricardo's reported carbon emissions

In 2024, Ricardo reported total carbon emissions of approximately 139.6 million kg CO2e, comprising 2,725,000 kg CO2e from Scope 1, 914,000 kg CO2e from Scope 2 (market-based), and 135,994,000 kg CO2e from Scope 3 emissions. This represents a decrease from 2023, where total emissions were approximately 160.6 million kg CO2e, with Scope 1 at 2,845,000 kg CO2e, Scope 2 (market-based) at 637,000 kg CO2e, and Scope 3 at 157,142,000 kg CO2e. Ricardo has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 GHG emissions by 46.2% by FY2030/31 from a FY2019/20 baseline. Additionally, they plan to increase their annual sourcing of renewable electricity from 74% in FY2019/20 to 90% by FY2025/26. For Scope 3 emissions, they target a reduction of 27.5% by FY2030/31 from the same baseline. The company has also established near-term reduction targets, aiming for a 15% reduction in Scope 1 emissions and an 85% reduction in Scope 2 emissions by 2025. These targets are part of their commitment to align with the UN Paris Agreement and demonstrate their dedication to achieving net-zero emissions. Ricardo's emissions data is cascaded from its parent company, Ricardo plc, which is responsible for the overall climate strategy and reporting.