Ricardo Sustainability Profile
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.
DitchCarbon Score
How does Ricardo's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Other Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Ricardo's score of 88 is higher than 94% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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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, and 135,994,000 kg CO2e from Scope 3 emissions. This data reflects a comprehensive assessment of their carbon footprint, with significant contributions from purchased goods and services (approximately 124.7 million kg CO2e) and the use of sold products (about 40.1 million 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, the target is a reduction of 27.5% by FY2030/31 from the same baseline year. The company has also established near-term reduction targets, with a focus on achieving a 15% reduction in Scope 1 emissions and an 85% reduction in Scope 2 emissions by 2025. These targets are part of their broader strategy to align with the UN Paris Agreement's goals. Ricardo's emissions data is cascaded from its parent company, Ricardo plc, ensuring consistency and transparency in their reporting. The organization is committed to ongoing improvements in sustainability practices and aims to adjust its baseline year for all scopes using FY 2024/25 data to further refine its targets and initiatives.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 4,343,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 2,016,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | 000,000,000 | 000,000,000 | 000,000,000 |
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Ricardo's Scope 3 Categories Breakdown
Ricardo's Scope 3 emissions, which decreased by 13% last year and increased by approximately 35% since 2022, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 92% of Scope 3 emissions.
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Ricardo's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Ricardo has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Frequently Asked Questions
Common questions about Ricardo's sustainability data and climate commitments