Carbon reduction plan
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.
| Emissions | Total (tCO₂e) |
|---|---|
| Scope 1 | 0 (details above) |
| Scope 2 | 26 |
| Scope 3 | 41.8 |
| Total emissions | 67.8 |
Our Scope 3 emissions breakdown is as follows:
| Scope 3 category | Emissions |
|---|---|
| Upstream transportation and distribution | 0 |
| Waste generated in operations | 0 |
| Business travel | 0 |
| Employee commuting | 41.8 |
| Downstream transportation and distribution | 0 |
Current emissions reporting
Reporting year: April 2023 - March 2024
| Emissions | Total (tCO₂e) |
|---|---|
| Scope 1 | 0 |
| Scope 2 | 24.9 |
| Scope 3 | 47.54 |
| Total emissions | 72.44 |
Our Scope 3 emissions breakdown is as follows:
| Scope 3 category | Emissions |
|---|---|
| Upstream transportation and distribution | 0 |
| Waste generated in operations | 0 |
| Business travel | 6 |
| Employee commuting | 41.54 |
| Downstream transportation and distribution | 0 |
Emissions reduction targets
Please note, as FY22 (Fivium’s baseline year) was during the Covid-19 pandemic, Fivium’s overall FY24 carbon footprint has been affected by higher energy consumption in its office as a consequence of a growth in headcount and a return to business-related travel; however, even with these factors taken into account, Fivium’s FY24 emissions per employee was only 1.08tCO₂e, which is very low in comparison to other office administration based organisations, who generally have a carbon footprint of between 2-5 tCO₂e per employee.
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 six years to 70.1tCO₂e by the end of March 2029.
Progress against these targets can be seen in the graph below:
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
- 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. Expected to result in annual reductions of approximately 5.23tCO2e of Scope 2 emissions
As all but the last of 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:
- expanding our cycle to work scheme to encourage more employees to reduce their commuting carbon footprint
- 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
- continuing to maintain ISO14001 accreditation
- Octopus EV Scheme
- attaining B-Corp accreditation
- utilising carbon removal schemes to offset any residual structural emissions to achieve a future state of net zero by end of March 2030
Declaration and signoff
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 and uses the appropriate Government emission conversion factors for greenhouse gas company reporting.
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 board of directors.
Signed on behalf of Fivium Ltd by Richard Clarke (Director)
24th October 2024