Impact report 2024
OUR MISSION
To accelerate the move to a decarbonised future
Welcome
"Real transformation is needed to reach a Net Zero world. To meet the Paris Agreement, greenhouse gas emissions must fall by 43% by 2030. We are currently a long way from this goal. Climate targets have built an ambitious vision, but the focus now needs to be on action. Businesses and governments alike must rapidly translate these targets into Net Zero transition plans and implement them across the board. This is a critical evolution that requires innovation, adaptation, and collaboration. At the Carbon Trust, we help our clients navigate this change, demonstrating that climate action, when done right, serves not only the planet, but also businesses, communities and people. I am proud of the incredible ways in which we work with our clients and partners to make this transition happen. Whether we assess onshore wind opportunities on public land to leverage the local benefits of the energy transition or demonstrate how telcos can bridge the digital divide sustainably, I am excited to share some recent examples in our impact report. This report is a celebration of the impactful work our teams carry out with our clients and partners. There is still much to do, but I hope our report inspires you and shows what is possible when countries, sectors and partners come together to overcome the barriers between us and our destination: Net Zero."
Michael Rea CEO, the Carbon Trust
Who we are
We partner with businesses, governments and financial institutions to catalyse progress on climate action.
Climate leaders for over 20 years.
Experts who advise on Net Zero transition plans, science-based targets, energy transition, sustainable finance, policy, climate disclosures and communication.
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No shareholders. We are financially independent and invest our profit back into enhancing the breadth and reach of our work.
Organisations supported to date. Together we identify practical solutions that transform industries and spur innovative thinking to make Net Zero a reality.
WORLDWIDE EXPERTISE
We have experts on the ground in the UK, the Netherlands, Germany, South Africa, Singapore and Mexico.
Offices
Countries reached through our work
"Having people on the ground allows us to find the local levers for change. At the same time, we benefit from the Carbon Trust's global network. Working with colleagues from Latin America, Europe, and Africa enables us to exchange learnings and apply them to the circumstances and needs of Southeast Asia. This type of knowledge-sharing at a global level is pivotal to accelerating our pathway to Net Zero."
Xinying Tok Head of Southeast Asia, the Carbon Trust, Singapore
Our work and impact
HOW WE APPROACH IMPACT
Our mission drives our work forward, which is why we focus our efforts where we believe we can add the greatest value. A dedicated impact model allows us to maintain a steady focus on this mission and evolve our strategy accordingly.
SUPPORTING THE SUSTAINABLE DEVELOPMENT GOALS
It is a priority for us to support a just transition, which is why we assess how our work aligns with the UN Sustainable Development Goals (SDGs). Through our work, we support:
- Climate action
- Affordable and clean energy
- Industry, innovation and infrastructure
- Responsible consumption and production
- Sustainable cities and communities
Our programmes and projects also bring added benefits, such as promoting decent work and economic growth, reducing inequalities and protecting life on land.
Key SDGs we support
Broader benefits
OUR IMPACT STORIES
OUR PARTNERSHIPS
Cross-collaboration is key to effective climate action. At the Carbon Trust, we are proud to work with a range of partners through the programmes and projects we support and the networks we are a part of. From governments to international financial institutions to philanthropic organisations to industry leaders, our goal is to promote climate innovation and inclusive climate action. Below are some examples of the organisations we collaborate with.
OUR CLIENTS
The Carbon Trust has partnered with 3,000+ organisations globally, supporting them on their Net Zero journey. From assessing risks and opportunities to target setting, here are some of the businesses we work with.
Our news and insights
NET ZERO INTELLIGENCE UNIT
The Net Zero Intelligence Unit provides experience-led insights to accelerate global progress towards Net Zero. The Unit is a dedicated team focused on raising ambition, awareness and action on Net Zero by drawing on the Carbon Trust’s 20 years of experience working with businesses, governments and financial institutions globally.
Business barriers
We asked 400 businesses around the world what is holding them back on Net Zero and provided solutions to address these barriers by making the internal business case and tackling Scope 3 emissions. Our research was widely covered by outlets like the Telegraph and at London Climate Week.
Innovation podcast
Innovation is a critical ingredient for decarbonising economies at breakneck speed. We discussed Net Zero innovation with experts for our first-ever podcast series. Our conversation with Sir Patrick Vallance, former Chief Scientific Advisor to the UK government, was mentioned by Private Eye and the New Statesman.
Offshore wind
Offshore wind can support green growth, energy security and Net Zero. We distilled the Carbon Trust’s leading expertise into four policy briefings to help governments lay the foundations for a thriving offshore wind market. The series provides advice on targets, auctions, and co-existence with other ocean industries.
“The world's first Global Stocktake confirmed that we're not moving fast enough to limit global warming to 1.5C. Understanding the barriers to faster progress, and harnessing innovation to deploy solutions at speed and scale are essential. This year, the Net Zero Intelligence Unit focused on how to accelerate the pace of change, leveraging the Carbon Trust’s experience and original research to equip policymakers and business leaders with the insights they need to tackle the urgent challenges ahead.”
Simon Retallack Director, Net Zero Intelligence Unit and Director, Latin America, the Carbon Trust
OUR VOICE IN THE NEWS
Fashion's climate impact
It’s no secret that fashion is one of the biggest carbon emitters across industry. Ahead of the Berlin Fashion Summit, we joined Studio MM04 and explained why fashion brands need to demonstrate what they are doing in terms of climate action and why only focusing on footprinting won’t suffice.
Our progress to Net Zero
Our targets:
The Carbon Trust was founded two decades ago with the unique purpose of driving global emissions reductions, so it is important for us to lead by example. That is why our Net Zero by 2050 target is in line with keeping global warming within 1.5C and has been validated by the Science Based Targets initiative (SBTi), which lays out the scientific criteria to reach Net Zero. Our focus now is on achieving these targets through deep cuts in our Scope 1, 2 and 3 emissions.
"We have already begun to see promising improvements in our footprint following strong supplier engagement, policy changes and our London office move. As we progress on this journey, we will continuously push our boundaries and look to bring forward our 2050 Net Zero target date."
Rhys Jones Head of Net Zero and Environment, the Carbon Trust
Our people
"Whether it is team morale and the supportive ethos in the company, or the deep technical dives we offer our clients, the Carbon Trust is not your typical consulting firm and I love being part of that difference."
Masaō Ashtine Energy Transition Manager, the Carbon Trust
of colleagues are proud to work for the Carbon Trust
of colleagues would recommend the Carbon Trust as an employer*
Our mission impact is the number one reason colleagues work at the Carbon Trust
* 78% scored us 7/10 or over on the question ‘How likely would you recommend the Carbon Trust?’ Internal staff survey, 2024
OUR VALUES
We are dedicated to cultivating an inclusive and diverse workplace where everyone can fulfil their potential. United by our mission, our people are the foundation of the Carbon Trust and its values.
Integrity
We are known and respected for our impartiality and trusted expertise, working to translate intent into impact.
Ambition
We tackle difficult challenges with innovative solutions to drive meaningful impact today, and for future generations.
Collaboration
We proactively bring stakeholders together and collaborate to catalyse meaningful progress. We are committed to building diverse, inclusive teams, knowing that we are stronger when we act together.
Excellence
We strive to set the highest standard of quality in everything we do, delivering accuracy and precision that others aspire to.
OUR PROGRESS:
Strengthen our gender balance
Women make up 39% of our leadership and 51% of our management teams. The focus now is on increasing this to 40-60%, so we have a fair gender balance across all leadership and management positions.
In comparison only 26% of FTSE 350 companies, have 40% or more women in leadership positions. Learn more in our gender pay gap report.
Improve diversity, equity and inclusion (DE&I)
Our goal is to broaden our diversity beyond gender. In 2023, we launched our DE&I vision and strategy, detailing our four priorities and their next steps: inclusive workspace; strong governance and accountability through clear DE&I goals; diverse employee journeys; and a shared internal understanding of DE&I.
Upskill our people
To support cross-collaboration and learning across regions, 19 colleagues completed a secondment in our London, Mexico, Johannesburg and Singapore offices. To improve the employee experience for new starters we also launched our new foundation consultancy training.
Support wellbeing
Our goal is to create a flexible and fulfilling work environment. We have introduced flexible work options such as core hours, hybrid working, sabbaticals, working from another location, and part-time hours. Additionally, all employees have access to an Employee Assistance Programme as well as internal Mental Health Allies, who are trained to spot the early signs and triggers of mental health issues and act as a first point of contact.
96% of our employees find our flexible benefits competitive and 82% feel they have a good work-life balance.
EMPLOYEE DIRECTORS
In 2024, Renata Lawton-Misra from our South Africa office and Tom Richardson from our London office were elected as Employee Directors by their peers to join our board. This underscores our commitment to integrating diverse perspectives and giving a voice to all colleagues, not only those in senior leadership positions.
This new initiative is a significant first step towards bringing employees closer to our policies, procedures, and decisions.
Our aims:
“I am excited to enhance our impact from an international perspective and drive meaningful change informed by on-the-ground realities. Representing these realities from territories across Africa, Asia and Latin America will help further our company’s strategy, policies and initiatives for local conditions, making them practical and effective.”
Renata Lawton-Misra Co-Head of Africa and Employee Director, the Carbon Trust
“I believe the Carbon Trust’s greatest asset is our colleagues’ collective expertise and passion. Since joining five years ago, I’ve witnessed first-hand how our team’s diverse knowledge and experience drive our mission forward. As an Employee Director, I look forward to establishing a strong connection between the board and my colleagues, so they feel heard, valued, and invested in our shared mission to drive the transition to a Net Zero world.”
Tom Richardson Senior Manager and Employee Director, the Carbon Trust
Get in touch
CONTACT US
Let’s progress to Net Zero. Speak to one of our experts.
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