Support your development of science-based targets
Ricardo Energy & Environment can support you in establishing your own science based targets, enabling you to demonstrate your company is taking responsibility and playing their part in addressing climate change.
Ricardo Energy & Environment has been at the forefront of development of the UK carbon budgets. This involved building up emissions forecasts and scenarios, and supporting companies in developing appropriate evidence-based GHG reduction targets for the short, medium and long term.
A typical work package that we will develop for considering any targets, including science-based, might follow these tasks:
- Scoping: We will seek to understand how your business might grow or expand in the coming years and why you are considering science-based targets. Where Scope 3 emissions comprise a large portion of your emissions, we will determine which sources are most material to your business. This will allow us to narrow down the range of possible approaches and focus on those methods and targets that are most appropriate.
- Quantification of projected emissions: We will develop a model of your future emissions. This model will take into account future decarbonisation of the sector in which you operate, and will show what level of emissions reduction might be expected in a business as usual (BAU) scenario.
- Comparison and gap analysis: We will compare your future business as usual emissions trajectories with the global carbon budgets along the 2°C and/or 1.5°C warming pathways. This will allow us to determine the most appropriate target.
- Target implementation: Once we’ve determined what your emissions target should be, we can also support you in implementing this target and developing strategies to achieve it. Depending on the nature of your business, this might include energy efficiency, fuel switching to renewables or grid electricity, new product development, etc.