Grant Thornton’s greenhouse gas reduction targets approved by the Science Based Targets initiative

 

CHICAGO — Grant Thornton LLP, one of America’s largest providers of audit and assurance, tax and advisory services, has received approval of its greenhouse gas (GHG) emissions reduction targets from the Science Based Targets initiative (SBTi). Grant Thornton joins thousands of other organizations worldwide that have had their targets validated by the SBTi, a global body enabling businesses to set emissions reduction targets in line with the latest climate science.

 

The firm signed on to the SBTi in 2021 and worked throughout 2022 to ensure its goals were aligned with the SBTi’s Net-Zero Standard. In its fifth annual Environmental, Social and Governance Report, which highlighted its sustainability and diversity, equity and inclusion progress, Grant Thornton reported it had submitted its goals to the SBTi for review and validation in early 2023, which have now been approved.

 

Grant Thornton’s approved science-based targets include a near-term target to reduce absolute GHG emissions by 55% by 2030 from a 2019 baseline. As part of this goal, the firm will reduce its absolute Scope 1 and 2 GHG emissions by 90% and reduce absolute Scope 3 GHG emissions by more than 50% from 2019 levels. Grant Thornton has also set a net-zero target to achieve by 2050, which will require the firm to maintain a 90% reduction in absolute Scope 1 and 2 emissions from 2030 to 2050, as well as reduce absolute Scope 3 emissions 90% by 2050 from 2019 levels.

 

To reduce its emissions, Grant Thornton will continue implementing strategies across its operations, including maintaining reduced levels of business travel, optimizing its real estate footprint, prioritizing sustainability in the firm’s offices and reducing waste, as well as working to minimize emissions from its supply chain.

 

Beatrix Bernauer, Grant Thornton’s chief risk and compliance officer, emphasizes that the validation of the firm’s climate goals is a meaningful indicator of the firm’s commitment to sustainability.

 

“We are dedicated to doing our part to limit the planet’s temperature rise,” Bernauer said. “We look forward to continued progress toward our near-term and net-zero targets and to supporting our clients with their own sustainability commitments.”

 

The SBTi encourages companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wildlife Fund for Nature (WWF).

 

About Grant Thornton

Grant Thornton” is the brand for two professional-services entities: Grant Thornton LLP, a licensed, certified public accounting (CPA) firm that provides audit and assurance services ― and Grant Thornton Advisors LLC (not a licensed CPA firm), which exclusively provides non-attest offerings, including tax and advisory services. With revenues of $2.4 billion for the fiscal year that ended July 31, 2023, and dozens of offices nationwide, Grant Thornton represents a community of more than 9,000 problem solvers, relationship builders, and industry specialists who know that how we serve matters as much as what we do.

 

Grant Thornton LLP, Grant Thornton Advisors LLC and their respective subsidiaries operate as an alternative practice structure (APS). The APS conforms with applicable laws, regulations and professional standards, including those from the American Institute of Certified Public Accountants.

 

Grant Thornton LLP and Grant Thornton Advisors LLC serve as the U.S. member firms of the Grant Thornton International Ltd (GTIL) network. GTIL and its member firms are not a worldwide partnership and all member firms are separate legal entities. Member firms deliver all services; GTIL does not provide services to clients.

 

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