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).