Setting the Standard in Sustainability
Version 1 is a verified Carbon Neutral company and has set a target to Net Zero in our operations by 2025
Our Environmental Strategy
At Version 1, we are committed to actions that reduce the impact we have on the environment. We believe that biodiversity loss and the climate emergency are everyone’s responsibility and that we all have a role to play in protecting our environment. To ensure we reduce our impact and act in a considered and united way, we are proud to have created this environmental strategy which sets out our strategic objectives and the actions we will take to achieve them.
The scope of this environmental strategy includes our commitment to reducing carbon emissions, our impact on other environmental factors e.g. waste and water management, and our responsibility to encourage and enable positive behavior change amongst our employees and stakeholders. It sets out our immediate ambitions for 2025, with some more ambitious targets stretching beyond this date.
We recognize the critical importance of environmental sustainability to our business and our people. People are at the heart of our organization, and the positive impact of this strategy will be brought to life by educating and empowering our employees to be our best advocates for sustainability. We strongly believe that when everybody plays their part, significant positive change can and will happen.
Watch the video below to learn more about our strategy.
Our Climate Pledge
Carbon Emissions
Calculating our footprint has been challenging but the process has been enlightening. And ensuring that we continue to manage and reduce the effect of this will become a major focus of our decarbonisation efforts as we strive for Net Zero emissions. To ensure we are tracking this accurately we are calculating and factoring in; working from home, transportation & distribution, business travel, waste & water, digital emissions and data storage.
Below is a review of our emissions comparisons to date, with 2019 as our baseline year.
- Scope 1 emissions : Office: Heating, Ventilation & AC
- Scope 2 emissions: Office: Purchased Electricity
- Scope 3 emissions: Also known as our Value chain emissions
Goals
Net Zero in our operations by 2025 and across our value chain by 2035, or sooner.
Our goals are ambitious because we know that firstly, it’s the right thing to do and secondly, our business model is inherently sustainable so if we push ourselves that bit harder, we can achieve that much more. With the full support of the employees, Board of Management and Shareholders, Version 1 is now a Carbon Neutral company and we aim to be Carbon Net Zero in our operations by 2025
Carbon Neutral Now
We understand that carbon neutrality is not the long-term solution, but we want to make a difference right now while at the same time focusing on taking every action possible to reduce our emissions. Offsetting is not the perfect solution, but it is a mechanism for transferring money from wealthy countries & companies to communities that provide nature based solutions to suck carbon out of the atmosphere and this is one way to tilt the economics in favour of the stewards of the forests and the soil and Version 1 is proud to support that.
Pledges & Commitments
Science Based Targets initiative
Version 1 has committed to set near-term company-wide emission reductions in line with climate science with the SBTi
Climate Disclosure Project
Version 1 has been awarded a B score for our 2022 Climate Response
UN Global Impact
Version 1 has aligned its decarbonisation strategy with UN Sustainable Development Goal
Our Pathway to Net Zero by 2025
Emissions Reduction
Waste & Conservation
Education and Mobilisation
Collaboration
Innovation
Green Procurement
Our Partnerships
We’re serious about sustainability at Version 1 and have engaged a number of environmental partners who are working with us to understand, and reduce our emissions. All helping to embed Sustainability into every aspect of our culture and business.
The Future
We consider our strategy a work in progress, with KPI’s to be developed and targets to be improved upon as our progress and awareness evolves. We believe sharing our plans to improve these areas keep our efforts transparent and help hold ourselves accountable. By coming together to face the biggest challenge of our lifetime, we can make a difference.
With a little input from a lot of people, we can create real & tangible change. We hope that our efforts to reduce emissions and collaborate to be a part of the climate solution will prove that Version 1 is a company that’s not just setting targets but setting the standard; we have the capacity, expertise and passion to truly set the standard in sustainability.
Version 1 awarded "B" score by the Carbon Disclosure Project
In 2022 Version 1 responded to Carbon Disclosure Project (CDP) for the first time and was awarded a “B” score.
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Over the past 20 years they have created a system that has resulted in unparalleled engagement on environmental issues worldwide.
The CDP’s annual scoring process is widely recognised as the gold standard of corporate environmental transparency. Bold environmental action must begin with an accurate, transparent assessment of environmental impact and progress, which CDP scoring makes possible. It shows us that we are on the road towards operating in line with a 1.5-degree, deforestation-free, and water-secure future.
