Carbon Reduction Plan
Commitment to achieving Net Zero
Multiverse is committed to achieving Net Zero emissions by 2050. Through increasing our SECR reporting cadence, harnessing smart building technologies and creating a sustainability conscious workforce from within we aim to reduce our impact.
Baseline Emissions Footprint
Baseline emissions are a record of the greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.
Baseline Year: FY22
Additional Details relating to the Baseline Emissions calculations:
Baselines report all Scope 1 & 2 Emissions measured using location based methodology, plus the following Scope 3 Emissions:
- Purchased goods & services
- Capital goods
- Fuel-and energy-related activities
- Upstream transportation & distribution
- Waste generated in operations
- Business travel
- Employee commuting
- Upstream leased assets
Calculated by Supercritical using emissions factors provided by the UK Government's Department for Business, Energy & Industrial Strategy (BEIS) team.
Emissions (tCO2e):
Scope 1: 0
Scope 2: 0
Scope 3: 2176
Intensity Ratio: 0.08/FTE
Total Emissions: 2176
Scope 3 Subset emissions (tCO2e):
- Purchased goods & services: 1025.1
- Capital goods: 236.5
- Fuel-and energy-related activities: 40.5
- Upstream transportation & distribution: 0.0
- Waste generated in operations: 0.3
- Business travel: 391.5
- Employee commuting: 406.1
- Upstream leased assets: 75.8
Current Emissions Reporting
Reporting Year: FY24
Current reporting
All Scope 1 & 2 Emissions have expanded to be measured using location and market based methodology, and the following Scope 3 Emissions:
- Purchased goods & services
- Fuel-and energy-related activities
- Waste generated in operations
- Business travel
- Employee commuting
Calculated by Normative in line with their methodology white paper using predominantly spend data.
Emissions (tCO2e):
Scope 1: 0
Scope 2:
- Market Based: 73.95
- Location Based: 56.75
Scope 3: 1125
Intensity Ratio: 2.51/FTE
Total Emissions:
- Corporate Carbon footprint: 1828
- UK only: 1199
Scope 3 Subset emissions (tCO2e):
- Purchased goods & services: 1358
- Fuel-and energy-related activities:29.81
- Waste generated in operations: 0
- Business travel: 253.1
- Employee commuting: 48.38
Emissions reduction targets
To progress towards our commitment of achieving Net Zero by 2050, this plan sets carbon reduction targets against our measured emissions. Despite having previously set baselines in 2022, we have changed carbon footprinting providers and seek to set accurate reduction targets. In doing this, Multiverse plans to achieve 90% reductions across our current emissions reporting by 2050.
We have set the following short and long-term reduction targets:
Short term
- Continue to report 0 Scope1 emissions
- Adopt activity based reporting to improve accuracy of our Scope 3 data
- 100% renewable energy across all UK office spaces by 2030
- Track our UK and US emissions independently whilst still reporting emissions at a global level
- Increase our employee commuting survey participation rate to 80%
Long term
- Reduce our total emissions (scope 1, 2 and 3) by at least 90% by 2050.
- Offset any remaining emissions through the use of verified carbon offsets.
We project that our total carbon emissions will decrease over the next five years to 1237 tCO2e by 2029. This is a reduction of 32% on our current emissions reporting.
Carbon Reduction Projects
Completed Carbon Reduction Initiatives
The following environmental management measures and projects have been completed or implemented since the 2022 baseline. The carbon emission reduction achieved by these schemes equate to 348 tCO2e, a 15.9%ge reduction against the 2022 baseline.
Completed carbon reduction projects:
- Purchasing more vegetarian and plant based options for the office
- Replacing standard hardware model with lower carbon footprint model
- Train first policy for business travel
- Engaged new Climate Strategist to drive increased accuracy in SECR and carbon footprint reporting
- Industry comparison analysis
In the future we hope to implement further measures such as:
- Engage our supplier chain in carbon footprint reporting
- Bi-anual carbon footprint reporting for accountable tracking against Net Zero goals
- Explore Sustainability Employee Resource Group to influence and educate workforce from within
- Establish Science Based Target Initiatives (SBTi)
Declaration and Sign Off
This Carbon Reduction Plan has been completed in accordance with PPN 06/21 and associated guidance and reporting standards for Carbon Reduction Plans.
Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard and uses the appropriate Government emission conversion factors for greenhouse gas company reporting(opens new window).
Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements, and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard.
This Carbon Reduction Plan has been reviewed and signed off by the Chief of Staff, representing the Executive Team.
Signed on behalf of Multiverse:
Libby Dangoor
Chief of Staff
07/11/2024