In addition to advancing sustainability with our clients and through our insights, we are making measurable progress toward our science-based target to reach net zero by 2050, guided by three strategic priorities.
Charting our firm’s path to net zero
Our approach to environmental sustainability
We have set greenhouse gas (GHG) emissions reduction targets relative to our 2019 baseline, validated by the Science Based Targets initiative (SBTi):
- 2025 near-term targets: reduce Scope 1 and 2 emissions by 25 percent and Scope 3 business travel emissions per full time equivalent (FTE) by 35 percent1 – we achieved these targets.
- 2030 near-term targets: reduce Scope 1 and 2 emissions by 64.5 percent and Scope 3 business travel emissions per FTE by 55 percent.
- 2050 net zero targets: reduce Scope 1 and 2 emissions by 90 percent and Scope 3 business travel emissions per FTE by 97 percent.
1. Our Scope 3 business travel emissions targets are based on air and ground travel, include emissions reductions from sustainable aviation fuel certificate purchases, and exclude emissions from accommodation, in line with the SBTi’s guidance.
Scope 1 & 2 emissions
Our Scope 1 and 2 emissions accounted for two percent of our 2019 footprint. They come from sources such as company cars, office heating and cooling, and on-site electricity generation (Scope 1) and our use of electricity and district heating (Scope 2).
We reduced Scope 1 and 2 emissions by 70 percent in 2025, outperforming our 2025 target . We achieved this by:
Scope 3 emissions
Our Scope 3 emissions accounted for 98 percent of our 2019 footprint and primarily come from business travel. We achieved a 50 percent reduction in Scope 3 business travel emissions per FTE, exceeding our 2025 target.
In addition to reducing our emissions, we are committed to supporting carbon avoidance and removal projects through the purchase of carbon credits. We purchase carbon credits equal to the amount of remaining GHG emissions as accounted for in our annual emissions inventory. We take a portfolio approach, balancing nature and technology-based projects, in-year purchases with longer term offtakes, as well as established and innovative approaches. We only purchase carbon credits certified by international standards. We are transitioning to 100 percent removals by 2030.
We partner with clients, nonprofits, suppliers, and other companies to protect nature, advance new technologies, and ensure critical climate financing. In 2025, our advance market commitments (AMCs) and buyer collaborations catalyzed market growth for next-generation products. For example:
- Symbiosis is a more than 20 million-ton AMC to contract with next-generation nature-based carbon removal projects by 2030. In 2025, Symbiosis reviewed over 180 projects submitted in response to their inaugural RFP. We signed an offtake agreement with the first Symbiosis project, Mombak.
- We are a co-founder of Frontier, an AMC to buy an initial $1 billion or more of permanent carbon removal between 2022 and 2030. In 2025, Frontier buyers, including our firm, signed seven additional offtake agreements worth $254 million, supporting the development of permanent carbon removal solutions like direct air capture, bioenergy carbon capture and storage, and ocean alkalinity enhancement.
By disclosing our progress to CDP, we embed transparency and accountability into our climate strategy. In 2025, we made the CDP’s Climate A List for the fourth consecutive year. CDP’s A List recognizes companies for their leadership in reporting and reducing GHG emissions.
Our environmental sustainability progress is also detailed in our latest Sustainable and Inclusive Growth report.
