This site uses cookies to help us manage and improve the website and to analyse how visitors use our site. By continuing to use the website, you are agreeing to our use of cookies. For further information about cookies, including about how to change your browser settings to no longer accept cookies, please view our Cookie Policy. CIick for more info.

Environment

Greenhouse gas emissions and climate change

Climate change is a serious risk to our environment, to society and the economy. By proactively managing our GHG emissions we will contribute our share of responsibility to combat climate change.

Our objectives

  • Limit our operational GHG impact
  • Implement an internal carbon price (ICP)

In recognition of the effects of climate change and its potential impact, we give consideration to climate change challenges and opportunities across our businesses. We continuously seek to improve our operational practices to limit and reduce the direct and indirect impact of our business operations and, in particular, business travel.

Our targets and aspirations*

  • Purchase 100% renewable electricity for all our offices by 2025
  • Reduce GHG emissions per FTE by 10% by 2025
  • Climate Neutral Operations in 2020

Climate Neutral Operations for Financial Services certification

The Climate Neutral Operations for Financial Services certification label is closely aligned with the requirements of PAS 2060. The certification label provides recognition of our annual operational emissions and GHG reduction strategy.

Climate Neutral Operations for Financial Services is awarded based on a third-party review that was conducted by South Pole Group. This requires us to report scope 1, 2 and 3 emissions from operational activity annually, develop a GHG reduction plan, set GHG targets and compensate for unavoidable emission.

In 2020 Rothschild & Co continued implementing GHG reduction actions, which included conscious choices to purchase renewable and sustainable energy to reduce its operational emissions.

Case study

By introducing our own internal carbon price (ICP), we place a monetary value on greenhouse gases and aim to influence employee behaviour to limit them.

The ICP generates a financial support stream, which in turn can be used to develop further small-scale carbon-reduction opportunities and sustainability projects in line with our selected SDGs. This method of internal carbon pricing helps us to responsibly address emissions from business operations, including travel and ensures we actively pursue emission reduction activities.

Greenhouse gas emissions data in tCO2e

Extrapolated absolute and per full time equivalent

Emissions tCO2e/FTE Location-based Market-based
  2018 2019 2020 2018 2019 2020
Total group emissions,
all scopes, extrapolated
31,031.1 29,240.7 12,537.5  29,711.2 27,613.3 10,753.6
tCO2e/FTE, all scopes,
extrapolated
8.85 8.43 3.57  8.47 7.96 3.06 

 

Greenhouse gas emissions in tCO2e 2018 2019 2020
Direct emissions
(Scope 1) 




Natural gas 628.75 128.65 127.92
Biogas 0.35 0.89 0.84
Other fuel 47.00 37.91 33.52
Owned vehicles 198.30 176.44 175.18
Total Scope 1 874.40 343.90 337.46
Indirect emissions (Scope 2) Electricity consumption (location-based) 3,344.29 3.321.06 2,585.92
  Electricity consumption (market-based) 2,104.46 1,844.10 989.62
  Heat consumption 298.39 289.94 262.28
Total Scope 2 (Location-based) 3,642.68 3,611.00 2,848.20
Total Scope 2 (Market-based) 2,402.85 2,134.04 1,251.90
Indirect emissions from Travel (Scope 3) Business travel – Flights 19,224.19 17,856.53 4,004.67
  Business travel – Rail 221.30  210.14  41.59
  Business travel – Taxis 334.04  324.99  139.53
  Hotel stays 349.41  289.20  85.52
Total Emissions – Travel   20,128.93  18,680.86 4,271.32
Other emissions (Scope 3) Courier services 24.44 45.02 28.94
  Materials 240.66  201.69 98.77
  Recycling and disposal 25.68  21.95 18.33
  Remote working  1,299.71
  Water 40.35  36.35 27.53
  Company leased vehicles 273.78  280.76 224.08
  IT equipment and server use (location-based) 594.82  594.82 1,083.35
  IT equipment and server use (market-based) 594.82  594.82 1,077.72
  Electricity Transmission and Distribution Losses (location-based) 292.18  327.22 249.36
  Electricity Transmission and Distribution Losses (market-based) 291.82 318.65 230.15
  Upstream emissions (WTT) (location-based) 2,960.34 2,914.82 1,129.88
  Upstream emissions (WTT) (market-based) 2,962.84 2,984.41 1,098.11
Total emissions – Other (location-based)   4,452.25 4,422.63 4,159.96 
Total emissions – Other (market-based)   4,454.39 4,393.65  4,103.34 
Total Scope 3 (location-based)   24,581.18 23,103.49  8,431.27 
Total Scope 3 (market-based)   24,583.33 23,074.51  8,374.66 
         
Total Scope 1, 2 & 3 (location-based)   29,098.27 27,058.39  11,616.93 
Total Scope 1, 2 & 3 (market-based)   27,860.58 25,552.44  9,964.01 

 

* Against a 2018 baseline.