Science based calculations & benchmarks
Science based methodologies
Company performance on the various E, S and G measures is reported against science based benchmarks rather than self-selected goals. The calculations and benchmarks we deploy are a mix of science based methodologies sourced from government, professional bodies, industry best-practice and leading-edge academic research.
For example, the benchmark we use for CO2e emissions is based on the Paris Agreement to reduce CO2 emissions by 50% by 2030 factoring in revenue growth. Our benchmark for recycling is 100% of packaging used for production and distribution of goods/services to be recyclable. For water consumption, the UN has set a target of a 25% reduction by 2030.
For employee training we the use the national benchmark of the average spend for a business on training its employees. And for gender pay for instance, we have used the target of equal pay i.e. zero gap.
Each benchmark we deploy and the evidence it is based on is detailed in the ESG Audit.