Commitment to achieving Net Zero

Fivium Ltd is committed to achieving Net Zero emissions by the end of March 2030.

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: April 2021 – March 2022

Additional Details relating to the Baseline Emissions calculations.

Fivium’s financial year ending 31st March 2022 is its baseline year. It should be noted that this period was during the Covid-19 pandemic and therefore energy consumption and staff commuting habits may change significantly in the future.

It should also be noted that due to the nature of Fivium’s business operations (which do not include any company owned premises or vehicles), Fivium does not produce any Scope 1 emissions.

Additionally, as Fivium are a digital services provider and do not buy or sell any physical products, it was not responsible for any Scope 3 upstream or downstream transportation and distribution emissions and nor did it generate any waste or wastewater emissions in the process of running its operations (other than staff waste, which is not in scope of reporting)

Fivium’s Scope 3 Employee Commuting data was calculated using the distance and typical form of transport that each of our 63 employees used during the baseline period. The average number of days each employee worked from our office per year and standard employee annual leave allowance were also factored into this calculation.

As all customer and prospect meetings and events were held virtually over the baseline year, no Scope 3 Business Travel emissions resulted from Fivium’s business operations.

Baseline year emissions:

EMISSIONS

TOTAL (tCO2e)

Scope 1

0 details above

Scope 2

30.7

Scope 3

22.3

Our Scope 3 emissions breakdown as follows

Scope 3 Category

Emissions

Upstream transportation and distribution

0

Waste generated in operations

0

Business travel

0

Employee commuting

22.3

Downstream transportation and distribution

0

Total Emissions

53.0

Current Emissions Reporting

Reporting Year: April 2021 – March 2022

EMISSIONS

TOTAL (tCO2e)

Scope 1

0

Scope 2

30.7

Scope 3

22.3

Our Scope 3 emissions breakdown as follows

Scope 3 Category

Emissions

Upstream transportation and distribution

0

Waste generated in operations

0

Business travel

0

Employee commuting

22.3

Downstream transportation and distribution

0

Total Emissions

53.0

Emissions reduction targets

Please note, as FY22 was Fivium’s baseline year, the current year emissions stated above are the same as our baseline.

In order to continue our progress to achieving Net Zero, we have adopted the following carbon reduction targets.

We project that carbon emissions will decrease over the next five years to 30tCO2e by end of March 2027. This is a reduction of 43%.


Progress against these targets can be seen in the graph below:

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Carbon Reduction Projects

Completed Carbon Reduction Initiatives

The following environmental management measures and projects were completed or implemented prior to the start of Fivium’s FY22 baseline year:

  • attainment of ISO14001 accreditation
  • launching cycle to work scheme
  • purchasing of cloud-based services or low power consumption equipment wherever possible

As these initiatives were implemented before the baseline year, the carbon emission reductions achieved by these schemes is unknown.

Planned Carbon Reduction Initiatives

In the future we hope to implement further measures such as:

  • continuing to maintain ISO14001 accreditation
  • attaining B-Corp accreditation
  • expanding our cycle to work scheme
  • investing in new bike racks in our office building to promote cycling to work rather than using other forms of CO2 emitting transport
  • migrating our development environment tools and services from the physical infrastructure located in our office to the cloud by end of December 2022. This is expected to result in annual reductions of approximately 5.23tCO2e of Scope 2 emissions
  • ensuring that, wherever viable, we use cloud-based services to run our operations and where this is not viable then we only purchase low power consumption equipment
  • buying carbon removal credits against any residual emissions to achieve a future state of net zero.

Declaration and Sign Off

This Carbon Reduction Plan has been completed in accordance with PPN 06/21 and associated guidance and reporting standard 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[1] and uses the appropriate Government emission conversion factors for greenhouse gas company reporting[2].

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[3].

This Carbon Reduction Plan has been reviewed and signed off by the board of directors.

Signed on behalf of Fivium Ltd by Richard Clarke (Director):

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[1]https://ghgprotocol.org/corporate-standard

[2]https://www.gov.uk/government/collections/government-conversion-factors-for-company-reporting

[3]https://ghgprotocol.org/standards/scope-3-standard

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