The firm has committed to cutting greenhouse gas emissions by 90 percent
The Science Based Targets initiative has officially validated Kennedys’ net zero target for FY2040.
The firm has committed to cutting its global Scope 1, 2 and 3 greenhouse gas emissions by 90 percent, starting from a base year of FY2020. Carbon removal projects will offset the remaining 10 percent of residual emissions, the firm said.
“Choosing a net zero target year of FY2040 was ambitious, but we knew it was achievable. This is a significant milestone for the firm and has been more than two years in the making,” head of responsible business Kate Hursthouse said. “As a firm, we wholeheartedly recognise that we have a responsibility to play our part in limiting climate change, and we are committed to taking meaningful action.”
The target will be implemented across all 48 of Kennedys’ offices throughout the world. Progress will be tracked every year and presented in the firm’s Responsible Business Report.
Kennedys’ newly validated commitment comes after its near-term commitment for FY2030, which involved reducing Scope 1 and 2 emissions by 70 percent and Scope 3 emissions by 30 percent. The SBTi validated the earlier commitment in 2022.
From FY2020 to FY2024, the firm cut combined Scope 1 and 2 emissions (market-based) by 26 percent. A third of Kennedys’ offices across the globe are procuring renewable energy.
To meet its sustainability targets, the firm presented the following key initiatives:
The SBTi Corporate Net-Zero Standard serves as the international framework for the setting of corporate net zero targets that are consistent with climate science.
