Achieving net zero by 2030
Thrive is committed to reaching net zero emissions by the end of the decade.
We've joined the race to zero
Thrive pledges to reach net zero emissions by 2030 via our commitment to the SME Climate Hub, a non-profit global initiative that empowers small to medium sized companies to take climate action and build resilient businesses for the future.
The Hub is an initiative of the We Mean Business Coalition, the Exponential Roadmap Initiative, the United Nations Race to Zero campaign and the Net Zero team at Oxford University.
As outlined in the SME Climate Hub guidance, businesses providing climate solutions as part of their core business model (like us) are permitted to half their emissions on an intensity basis rather than an absolute basis. That means we’re also committing to align with a +1.5°C trajectory by halving emissions intensity by 2030.
In fact, our wind, solar and hydro sites have avoided the emission of over one million tonnes of carbon dioxide since our inception in 1994.
We were also one of the first companies to fund ‘direct wire’ energy solutions for businesses – installing solar or wind projects on site, enabling them to benefit from cleaner, cheaper power, as well as reducing their own carbon footprint.
Other key actions we’ve taken:
- Identified the scope 3 emissions relevant to Thrive and provided comprehensive emissions estimates.
- We are based in a certified BREEAM Green Building, one of the greenest in Bristol, which has solar panels located on the roof.
- Choose renewable electricity tariffs to supply all of our operational renewable energy projects.
- Only send printed annual reports to investors who specifically request them, reducing printing by 96% and saving over a tonne of paper.
- Support our staff to reduce the impact of their travel, with a ‘bike to work’ scheme and participation in Climate Perks, an initiative that incentivises low carbon holiday travel.
How are emissions reported?
The Greenhouse Gas Protocol is a global, standardised framework to measure and manage greenhouse gas (GHG) emissions.
It splits emissions into three categories:
Scope 1 – Direct emissions from sources that a company owns or controls directly e.g. the gas used for our heating.
Scope 2 – Indirect emissions coming from the energy it purchases and uses e.g. the electricity powering our office.
Scope 3 – Indirect emissions resulting from sources that are not controlled or owned by the company. For example, the resulting emissions from our supply chain or employee commuting and business travel.
- Maintained our scope 1 and 2 emissions at zero (down from a baseline of 2.9 tCO2e in 2019).
- For the second year running, we have reported comprehensive emissions estimates across our 7 relevant scope 3 categories, which include all areas relating to the construction and operation of our sustainable energy sites.
- Reduced the carbon intensity of our business travel by 17% in 2023 compared to 2022.
- Calculated our avoided emissions (sometimes referred to as scope 4) to illustrate the wider carbon impact of the business.
2022 was a very successful year in terms of project development and is reflected in our reported emissions, which included the full construction footprint of three new clean energy projects. By comparison in 2023, our reported emissions only include the construction of one small rooftop project. Despite this yearly variation in our highest emissions area, it is useful to see how much greater our avoided emissions are in either year.
Newly constructed projects will deliver emission reductions well into the future – for example, a wind project will generate renewable electricity for 25-30 years with very low emissions during this time.
For a full breakdown on our scope 1, 2 and 3 emissions, please read our 2023 report here.
Commitments for 2024/2025
Commitments for 2024/2025
Continue to fund and build renewable energy and battery storage projects in line with our mission.
Continue to work with businesses to provide off-balance sheet ‘direct wire’ renewable energy solutions, enabling them to install renewables on-site and benefit from the electricity.
Calculate all emissions scopes for 2024, using the same consistent methodology.
Report our emissions annually and discuss the progress towards our targets.
Research the options available for legitimately counterbalancing our reported emissions.
Continue to assess options for carbon-saving materials or measures and implement these in future project construction.
Review our plan as required.
Looking for more?
Impact
As one of the UK’s highest scoring B Corps, we are committed to using our business as a force for good.
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Responsible and sustainable investment
Thrive puts money to work building new clean energy projects and empowering people to take action to address the climate crisis.
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Supporting communities
We work hard to ensure our clean energy projects have the biggest impact possible on the communities living close to them.
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Certified B Corporation
We’re proud to score in the top 3% of all UK B Corps for our positive impact on people and planet.
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We're here to answer your questions,
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