Cloudfm is aiming for a full-scope net zero emissions target for 2035, having already met its scope 1 and 2 science-based emissions targets and is now setting its sights on scope 3.
It has made the move because it recognises that a large part of its carbon footprint is in scope 3, which includes the indirect emissions produced by a business. It includes factors such as employee commutes, business travel, waste, goods and services acquired, production, product disposal at the end of its useful life, distribution, and more.
The company has chosen to set science-based targets (SBTi) to measure the pace of change and inform plans to ensure rigour around the goals. The initiative is a partnership between CDP, a not-for-profit charity that runs the global environmental disclosure and reporting system, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
SBTs show companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change and keep within a 1.5°C temperature rise.
Commenting on the move, Cloudfm head of ESG Katrina Christopoulos said: “Cloudfm has set out to lead the FM industry and will be sharing best practices with its customers, supply chain and the wider industry. We have established clear targets and a methodology for achieving those goals within the timeframe. There is no time to waste, and we want to collaborate to develop the quickest and most successful initiatives to decarbonise our industry”.
The company is engaging its supply chain with a new programme to help its partners to manage the transition to net zero.
It has also teamed up with EcoVadis, the world’s largest and most trusted provider of business sustainability ratings, with a global network of more than 100,000 companies. It has given Cloudfm an environment, social, governance (ESG) score to enable the company to manage its impacts across these broad areas better. As a result, the company has already achieved a silver rating in the 82nd percentile.
