12 Dec 2024
2023 Net Zero Report – Scopes 1 & 2 remain at zero and carbon intensity of business travel reduced by 17%
Since 1994, Thrive’s wind, solar and hydro projects have saved over 1 million tonnes of CO2e. However, it is important to report on and reduce the emissions that we make in our operations. Thrive is committed to reaching net zero emissions by 2030 via 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. By reporting on our emissions, we’re able to better understand the sources of them, whilst demonstrating transparency on our journey to net zero.
Thrive’s latest climate report for 2023 highlights key updates on our path to net zero by the end of the decade:
- Maintained scope 1 and 2 emissions at zero (down from a baseline of 2.9 tCO2e in 2019). *
- For the second year running, we reported comprehensive emissions estimates across our seven relevant scope 3 categories, which include all areas relating to the construction and operation of our clean energy projects.
- Reduced carbon intensity of business travel by 17% in 2023 compared to 2022.
- Calculated avoided emissions (sometimes referred to as scope 4) to illustrate the wider carbon impact of the business.
Emission reductions are the emissions ‘avoided’ from the operation of our portfolio of clean energy projects. These serve as a key metric to illustrate the wider positive carbon impact of the business.
It is important to note that 2022 was a very successful year for project construction and that our reported emissions include the full construction footprint of three new 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 both years.
Our eyes are now fixed on the 2024 reporting year as we continue rolling out more clean energy projects and helping businesses to decarbonise. We are committed to continually reporting our emissions and reviewing our strategy on an annual basis.
*Thrive’s emissions are reported using The Greenhouse Gas protocol framework that 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.