Emission Reduction

Sustainability is central to our organisation’s purpose and strategy. In 2024, climate catastrophes continued to occur across the globe destroying lives, livelihoods and infrastructure. Immediate action is vital to counteract the detrimental effects of human activities on the climate. We are leading by example with an emission reduction strategy which is among the most ambitious validated by the Science Based Targets initiative (SBTi). We are committed to delivering on this net- zero intention and, in the longer term, recognise that even this will not be enough and yet more challenging action will be required.

Our reduction targets, approved by SBTi in 2022:

Reduce scope 1 and 2 greenhouse gas emissions from mainly offices by 95% by 2030 and 100% by 2050 from a 2019 base year. We also commit to increase annual sourcing of renewable electricity from 80% in 2019 to 100% by 2030.
Reduce scope 3 greenhouse gas emissions mainly related to business travel by 67% by 2030 from a 2019 base year.

In 2024, we stayed ahead of our annual projections to meet these targets. The combination of office moves in the Netherlands, United Kingdom and India together with the divestment of our South African entity led to a reduction in scope 1 and 2 emissions. Despite higher emissions for our long distance flights, our overall scope 3 emissions declined due to an increase in the use of public transport for business travel, as well as improvements in our global measurements for business travel and commuting. In 2025 we expect further drops in commuting and business travel emissions due to the implementation of smart solutions in our vehicles and more detailed data registrations.

We are using scenario analysis to develop a climate change reduction strategy for the emission reduction measures that we will implement to reach our 2030 targets, particularly in relation to scope 3. This action plan, as well as our overall Enhancing Society Together activities, will align with CSRD reporting requirements.

To track progress on our science-based targets, we follow the GHG protocol and international standard ISO 14064. DNV has verified our carbon footprint since 2019 according to this standard and did so early 2025 in respect of our 2024 carbon footprint.

Carbon footprint, according to the GHG protocol and
ISO 14064

CO₂(Ton CO₂-eq)	2019*	2022	2023	2024
Scope 1 emissions	4,309	1,244	895	697	Direct greenhouse gas emissions that occur from sources that are owned or controlled.
Scope 1 emissions		-71%	-79%	-84%
Scope 2 emissions	1,121	767	856	121	Indirect greenhouse gas emissions that occur from generation of purchased electricity and heat.
Scope 2 emissions		-32%	-24%	-89%
Scope 3 emissions	22,929	10,898	13,596	12,140	Indirect greenhouse gas emissions that occur in upstream and downstream activities.
Scope 3 emissions		-52%	-41%	-47%
Total	28,359	12,909	15,347	12,958

*Together with the Science Based Targets initiative, we set 2019 as the baseline for our science-based reduction targets because it was the most recent and representative year before Covid.

In 2024, scope 1 emissions further decreased to 697 tonnes CO₂-eq primarily due to:

Leaving gas heated offices globally with the most significant offices moves being in the UK, for example to the new London office that is fully electric. Also, climate control systems have been managed more sustainably e.g., lowering the temperature where possible to prevent 'too warm' offices as well as various Paris Proof measures to lower office gas demands.
Replacing fossil lease cars that were at their contract end, by 100% electric vehicles.

Scope 2 emissions further decreased to 121 tonnes CO₂-eq primarily due to:

An increase of the renewable energy we procured globally. In 2024 we reached our SBTi target of applying 100% renewable energy before 2030 from a 2019 baseline (80%). This includes the usage of all our electric vehicles.
The independence of our South African company as a result of which their greenhouse gas emissions are no longer in our scope. In compliance with ISO14064 the new organisational boundary did not trigger a threshold value for baseline recalculation.

Scope 3 emissions decreased to 12,140 tonnes CO₂-eq primarily due to:

A significant drop in upstream energy and fuel emissions due to the usage of 100% renewable power. Lowered gas use and increasing share of electric vehicles in
scope 1 and 2.
Improved accuracy in our business travel numbers globally (update of scope 3 models) and increased use of public transport and electric vehicles.

Carbon footprint by buildings and travel

		baseline
	Scope	2019*	2022	2023	2024
Our workforce/ employees		5,295	5,551	5,675	5,740	For 2019 up to and including 2022 we reported based on workforce. From 2023 onwards we report on employee year-end headcount numbers.

Total carbon footprint	① ②	5,430	2,011	1,751	818
per employee	① ②	1.03	0.36	0.31	0.14
Total carbon footprint	① ② ③	28,359	12,909	15,349	12,958
per employee	① ② ③	5.36	2.33	2.70	2.26
			-57%	-49%	-58%

Carbon footprint of office buildings	① ②	1,616	1,118	1,194	443	Office buildings scope 1 and 2 is energy related emission.
per employee	① ②	0.31	0.20	0.21	0.08	Office buildings scope 1 and 2 is energy related emission.
Carbon footprint of office buildings	① ② ③	3,280	2,208	2,361	1,421	Office buildings scope 3 is other building related emission like waste, printers.
per employee	① ② ③	0.62	0.40	0.42	0.25
			-36%	-33%	-50%

Carbon footprint of business travel by car	① ②	3,863	894	561	376	Business travel by car scope 1 and 2 is from leased/owned cars.
per employee	① ②	0.73	0.16	0.10	0.07
Carbon footprint of business travel by car	① ② ③	11,938	5,152	5,034	3,207	Business travel by car scope 3 is from private cars used for business mileage.
per employee	① ② ③	2.25	0.93	0.89	0.56
			-59%	-61%	-75%
Carbon footprint of all travel by road	① ② ③	17,120	6,919	7,239	5,378	All travel by road scope 1, 2 and 3 covers business and commuting mileage.
per employee	① ② ③	3.23	1.25	1.28	0.94
			-61%	-61%	-71%

Carbon footprint of flying	③	7,735	3,653	5,588	6,035	Business travel by air
per employee	③	1.46	0.66	0.98	1.05	Business travel by air
			-55%	-33%	-28%

*Together with the Science Based Targets initiative, we set 2019 as the baseline for our science-based reduction targets because it was the most recent and representative year before Covid.

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