Kearney becomes first management consultancy with SBTi-approved net-zero targets
- Kearney has committed to net-zero targets, including achieving net-zero greenhouse gas (GHG) emissions by 2050SINGAPORE - Media OutReach - 9 September 2022 - Global management consultancy Kearney has today become the first management consultancy in Asia Pacific and the world to have its near- and long-term science-based emissions reduction targets approved by the Science Based Targets initiative (SBTi).
SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), to drive ambitious climate action in the private sector by enabling organizations to set science-based emissions reduction targets.
With the UN describing the latest climate science from the IPCC as ‘Code Red for humanity’, the chances of society limiting global temperature rise to 1.5˚C are dwindling, but it is still possible if we act fast. In Asia Pacific, immediate action is imperative as the region is increasingly vulnerable to climate change due to factors such as rising sea levels and the region’s reliance on natural resources.
Kearney’s commitments to reducing emissions in the value chain and reaching science-based net-zero targets are aligned with the 1.5˚C pathway and include:
- Reducing absolute Scope 1 and 2 GHG emissions by 50% by 20301
- Reducing absolute Scope 3 GHG emissions from business travel by 30% by 2030 and all other absolute Scope 3 emissions by 30% in the same timeframe
- Reaching 100% renewable energy in Kearney offices by 2025 and continue annually sourcing 100% renewable electricity through 2030
- Ultimately, reducing absolute Scope 1, 2 and absolute Scope 3 GHG emissions by 90% and reaching net-zero GHG emissions across the value chain by 2050
These pledges to the Science Based Targets initiative (SBTi) Net-Zero Standard are where Kearney aims to lead by example, as it provides the very best advice and hands-on sustainability expertise to its consulting clients on ESG transformation, net zero, sustainable & responsible sourcing, circularity, and equitable and inclusive societies. Kearney is actively working across its offices and supply chain partners in more than 40 countries, including nine in the region, on a continuous journey to reduce its environmental footprint wherever it can – for example embracing greener ways of working to reduce business travel, reducing energy consumption, implementing sustainable mobility practices, and boosting our reduction and recycling of waste.
To neutralize the impact of residual unavoidable emissions, Kearney is investing in carbon removal technologies and projects with proven environmental, social and economic benefits, that meet stringent international certification standards. Kearney is committed to continuous improvement and strives for transparency and accountability in demonstrating its contributions toward a sustainable and equitable future.
Commenting on this announcement, Arjun Sethi, Head of Asia Pacific and Vice Chair of Kearney's Digital Transformation Practice, said: “We are honored to be the first management consultancy in Asia Pacific with approved Net-Zero science-based targets. This milestone reaffirms our continued commitment to power a sustainable future and underlines our efforts to help our clients do the same. Within the region, we are seeing increasing focus on the creation of sustainable products, streamlining of supply chains and mitigation of climate change, but we must act collectively to accelerate the speed of net zero transformation. At Kearney, we aim to be leaders in sustainability both in our own right and as an ally to our clients.”
Alex Liu, Managing Partner and Chairman at Kearney, commented: “To be the first management consultancy firm with approved Net-Zero science-based targets is an incredible achievement. As consultants, the biggest sustainability impact we can create is through helping our clients with the opportunities and challenges in the transition to a low-carbon future.
“We need to act fast, we need to act now, and we need to base our actions on science if we are to have any chance of meeting our necessary goals. With this milestone, we are living up to our vision to lead in sustainability, while continuing on our double-digit annual growth trajectory, and demonstrating global leadership for our industry to follow.”
More information on Kearney’s commitments to positive social and environmental impact can be read here.
Notes to Editors
All direct emissions reductions will be prioritised and all residual emissions will be neutralized in line with SBTi criteria before reaching net-zero emissions.
1. Percentage reductions in GHG emissions listed in these bullet points are calculated from a 2019 base year
Kearney is a leading global management consulting firm with deep-rooted expertise in strategic transformation. We work with more than three-quarters of the Fortune Global 500, as well as with government bodies and non-profit organizations. As a global consulting partnership in more than 40 countries, our people make us who we are. We’re individuals who take as much joy from those we work with as the work itself. Driven to be the difference between a big idea and making it happen, we help our clients break through. To learn more about Kearney, please visit www.kearney.com.
About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.