Carbon Reduction Plan

Emissions reduction targets

To continue our progress towards achieving our Scope 1 and 2 Net Zero emissions commitments by 2031 and Scope 3 Net Zero commitments by 2032, we have adopted the following near-term science-based targets:

• We aim to achieve climate neutrality[1] across all emission scopes at the end of the reporting year 2023 through emissions reductions, where possible, and through purchasing credible, scientifically verified carbon offsets/carbon removals as we continue our journey.
• As we are in a period of growth, and forecast to have 50 staff by 2025, and 200 staff by 2030, our intensity target for 2025 is to reduce our tCO2e per employee below the current level of 16 tCO2e per employee to 10 tCO2e per employee, which is in line with our carbon reduction roadmap.

We will measure and communicate our progress annually through our Carbon Reduction Plan.

[1] To be Climate Neutral, requires a Company to reduce GHG emissions and offset any which are impossible to eliminate.

Carbon reduction initiatives

We are conscious that we are a start-up with a growing FTE and income and expenditure steam. Consequently, we are focusing on how we manage this growth in line with our carbon emission commitments.

However, we are a purpose-driven organisation that views our operating model through the lens of sustainability. Consequently, the following environmental management measures and projects have already been implemented.

Current initiatives

• Company-owned EVs.
• Installation of EV charging points at business premises.
• Work From Home policy (50% of the time).
• Increased use of online, low-carbon collaborative tools to support a reduced business travel footprint.
• Business Travel related policies encourage the use of public transport.

We propose the following short and Mid initiatives to support our journey to 2030 and beyond.

Short-term initiatives (FY 2023/24)

• Establish a framework for the Environmental Management System based on ISO 14001, and using IWA 42:2022, Net Zero Guidelines.
  • Submit a Science Based Target as detailed by SBTi[1]
  • A comprehensive review of Company governance, policies and procedures through the lens of Climate Change and limiting warming by 1.5d.
  • Set targets for transparency and accountability, such as eliminating the purchase and use of single-use plastics in the office environment.
  • Collect detailed business, travel and commuting data to improve emissions tracking and reporting.
• Improve office energy efficiency of our office premises by at least 10% year on year.
  • Ensure the energy supply is 100% renewable.
  • Ensure office, food and drink waste is recycled or composted where possible.
• Implement an internal communications strategy for employees focused on understanding climate change, climate action and personal and professional responsibility. Elements of the strategy would include:
  • Establishment of a steering committee of employees to champion focus, engagement and sharing success.
  • Awareness training on the carbon reduction plan and the part they can play, including reducing their own footprint at home and work.
  • Proactive use of carbon calculators for employees.
  • Offset Carbon Emissions through a local and verified carbon sequestration programme.

[1] Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement – limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.

Mid-term initiatives (FY 2025/27)

• Design and implement a Circular initiative to include Cloud Computing and E-waste.
  • Prioritise the protection and enhancement of nature.
  • Managing and tracking e-waste, ensuring products at the end of life are repurposed, repaired or recycled.
  • Rethinking the need to purchase new equipment versus leasing and sharing options. This would involve evaluating the environmental impact through the life cycle and end-of-life plans.
  • Prioritising suppliers who have embedded environmentally and socially sustainable practices within their organisation and supply chain.
    • Update the procurement strategy to include carbon reporting and management requirements for suppliers.
• Support local sourcing for labour and materials, where possible, to minimise the impact of travel and deliveries.
• Expand Carbon Reduction initiatives internally and collaboratively to consider broader sustainability themes such as equity and climate justice.
• Encourage carbon consciousness among clients and customers.

Policy on carbon offsetting

Axiologik Ltd will offset any remaining carbon emissions we cannot remove each year, ensuring we establish quality criteria to not cause unintended social or environmental harm. We will work towards targeting residual emissions at less than 5% of baseline year.