Leathersellers significantly reduce carbon emissions across investment portfolio as part of commitment to SBTi targets

As part of carbon emissions targets approved by the Science Based Targets initiative (SBTi) the Leathersellers have decarbonised their investment portfolio, comprising corporate and Foundation funds.

The Leathersellers’ Company joined the Leathersellers’ Foundation in moving investments to fund managers with a specific ESG mandate, which avoids companies and activities that create significant environmental harm, such as those in the fossil fuel industry.

This will contribute towards decreasing total carbon emissions and will be factored into the 2025 reporting year, which will include Scope 3 emissions (indirect emissions, including operations, property, and investments).

Scope 1 and 2 emissions (Scope 1. Direct emissions. Scope 2. Electricity consumption, renewable, and non-renewable energy) were recently calculated to fulfil the 2024 reporting requirements of the SBTi.

Scope 1 and 2 property emissions increased by 6% compared with 2023. This was principally driven by higher refrigerant top up during this period.

The Leathersellers’ Science Based Target requires a 42% reduction in Scope 1 and 2 emissions by 2030 from a 2023 baseline.

With both corporate and Foundation investment portfolios now under active ESG management, short- and longer-term strategies are being explored for reducing Scope 1 and Scope 2 emissions, such as 100% renewable and biogas electricity tariffs.

The full effect of the ESG investment consolidation on total carbon emissions will be included as part of the next SBTi reporting year.

NOTES

CARBON EMISSIONS REPORTING DATA FOR 2024

 Market-based emissions

(Jan 24 to Dec 24)