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Centralis Group’s Commitment to Net Zero Emissions by 2050

28 August 2024
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As a market-leading outsourced services provider to the highly regulated global corporate services industry, we have reinforced our commitment to sustainability with a goal to achieve carbon neutrality by 2050.

In line with the 2015 COP21 ‘Paris Agreement’, which includes a commitment to achieve net zero carbon emissions by mid-century,  and in recognition of our responsibility as a global firm to mitigate our environmental impact, we have developed our ‘Net Zero Plan’ and a series of ESG initiatives to combat climate change and drive awareness.

 

The Path to Carbon Neutrality 

Achieving carbon neutrality requires a robust, strategic approach that is aligned with the goals of the Paris Agreement. As part of our plan, we assessed our Scope 1, 2 and 3 Green House Gas (GHG) emissions to help understand our environmental impact. Scopes are defined as:

Scope 1 emissions: emissions from sources that an organisation owns or controls directly.

Scope 2 emissions: emissions that a company causes indirectly and come from where the energy it purchases and uses is produced.

Scope 3 emissions: emissions that are not produced by the company itself and are not the result of activities from assets owned or controlled by them, but by those that it’s indirectly responsible for up and down its value chain…

Compared to the baseline year (January – December 2023), the average carbon per employee decreased due to the use of our existing footprint to accommodate the growth in our workforce. Although there was a slight uptick in total carbon emissions in 2024, this was primarily due to an increase in staff numbers, a small increase in purchases in line with increasing revenue, and the expansion of our Bulgarian office.

 

Recent ESG Projects in Carbon Offsetting

While it is our long-term plan to achieve net zero emissions by 2050, we are committed to being carbon neutral in the short- and medium-term by offsetting the emissions where they cannot immediately be reduced. For offsetting initiatives to be credible and compliant (with PAS 2060 or ISO 14068:2023 standards), they must be selected from a reputable organisation. Last year, we completed four significant carbon offsetting projects, all of which were registered under the United Nations Framework Convention on Climate Change and aligned with our Net Zero objectives. The projects included investments in reforestation, hydroelectric power in India, wind power in Jamaica and biomass energy in Malawi, and successfully offset a total carbon footprint of 1314 tonnes of CO2e.

This year, Centralis Group have chosen to invest in three new UN Certified Projects:

 

Poechos I Project

The Poechos I Project focuses on hydroelectric power generation in Piura, Peru. Utilising existing water resources from the Poechos dam generates 57,740 MWh annually, which displaces 31,463 tonnes of CO2 emissions each year. This project supports Peru’s sustainable development by reducing reliance on fossil fuels, creating local jobs, and improving water quality for agriculture.

 

Biogas Project at MH Bio-Ethanol Distillery

This project focuses on methane recovery from organic wastewater at an ethanol distillery in Phnom Penh Province, Cambodia. The captured methane generates steam, replacing fossil fuels and reducing methane emissions. The project not only enhances local job opportunities, but also improves air quality and contributes to Cambodia’s energy independence.

 

Clean Cook Stoves in Sub-Saharan Africa 

Located in Ghana, this project focuses on manufacturing efficient cookstoves to replace traditional, harmful cooking methods. The initiative has impacted over 400,000 people, reduced CO2 emissions by 720,000 tonnes, and saved significant forest resources. It also enhances local livelihoods by providing jobs and reducing health risks associated with air pollution.

 

Tree Planting in the UK

In addition to the three new projects above, Centralis Group also continues to foster our working relationship with Ecologi, having funded 9,133 trees and invested in 40 projects over the last three years, including greenhouse gas capture, sanitation, wetland preservation, and deforestation prevention. These initiatives reflect our commitment to global sustainability efforts and our dedication to impactful ESG practices.

 

Looking Ahead: The Road to 2050 

As we move forward, Centralis Group remains committed to deepening our efforts in reducing our emissions and expanding our portfolio of carbon offsetting projects. As we work towards net zero emissions by 2025, our vision is clear: to lead by example in the sector, demonstrating that economic growth and environmental stewardship can go hand in hand, whether through strategic partnerships, sustainable investments, or simply by advocating for the values that drive our mission. Together, we can make a lasting impact.

 

References:

https://unfccc.int/process-and-meetings/the-paris-agreement

https://www.un.org/en/climatechange/paris-agreement

https://www.un.org/en/climatechange/net-zero-coalition

https://eciu.net/analysis/briefings/net-zero/net-zero-why#:~:text=Climate%20science%20is%20clear%20that,need%20to%20fall%20to%20zero.

https://www.nationalgrid.com/stories/energy-explained/what-are-scope-1-2-3-carbon-emissions#:~:text=Definitions%20of%20scope%201%2C%202,owned%20or%20controlled%20by%20it.

https://www.bsigroup.com/en-GB/capabilities/environment/pas-2060-carbon-neutrality/#:~:text=ISO%2014068%2D1%20was%20introduced,neutrality%20through%20a%20hierarchical%20approach.

https://offset.climateneutralnow.org/poechos-i-project?searchResultsLink=%2FAllProjects%3FContinentId%3D264

https://offset.climateneutralnow.org/biogas-project-at-mh-bio-ethanol-distillery-cambodia-5804-?searchResultsLink=%2FAllProjects%3FContinentId%3D261%26CountryId%3D291

https://offset.climateneutralnow.org/clean-cook-stoves-in-sub-saharan-africa-by-climatecare-limited?searchResultsLink=%2FAllProjects%3FContinentId%3D260

https://ecologi.com/centralis

https://proposals.centralisgroup.com/Centralis-ESG-Commitment-nKlIxIZZTlW5?_gl=1*1dh9g09*_gcl_au*MTcxMDU3NDc4Ny4xNzIxMzE3ODE5*_ga*MTM1OTk1NDc5My4xNzEzNDQ1MTgz*_ga_PXCGHMHQ41*MTcyMzYzMTI1OC4zNy4xLjE3MjM2MzEyODAuMC4wLjA