LSEG is committed to utilising resources in ways that ensure the long-term sustainability and profitability of the business and that benefit the environment. The Group’s primary environmental impacts arise from our offices and data centres that host nearly 5,000 employees around the world, from staff travel and, indirectly, from our supply chain.
The reporting period was the Group’s 5th year of setting and reporting against environmental targets. In 2017 we set science-based targets for our Scope 1 and Scope 2 emissions, which inform our annual environmental targets set each year by our Environmental Management Group (EMG). In 2018, we have exceeded our 5% reduction in total carbon emissions target and have met most key environmental impact targets. We recognise we have work to do on our Business Travel environmental targets, for both Rail and Air Travel, and this will be a focus of EMG’s efforts in 2019.and reporting against environmental targets. Highlights are outlined below, and full details are available on pages 31-35 of our 2018 CS Report. Our carbon emissions in 2018 are verified externally, which you can download the full verification statement here.
Our environmental performance
During the reporting period, we achieved a 18% reduction in our absolute carbon footprint and a 16% reduction in Carbon Emissions per Full Time Employee (FTE). This is a slower rate of change to 2017, where LSEG achieved a 43% reduction in carbon emissions per FTE. This was due to significant reduction in 2017, where LSEG achieved a 43% reduction per FTE. This was due to significat action in 2017, where 64% of the Group's electricity was moved to production by natural renewable energy sources.
We maintained our accreditation for our ISO 14001 Envirnmental Management System by a UKAS accredited body. This system initially covers the UK property portfolio and we are assessing expansion to cover further locations. In 2018 we built on the setting of Scope 1 and Scope 2 science-based targets, by completing a review of our Scope 3 emission sources with SBTI. We continue to develop our scope 3 target, in order for us have all 3 scopes targets verified by the SBTI.
In 2017, we also set new long-term, science-based targets (see page 31 of our 2018 CS Report for further details).
We have set ongoing targets for all of our impact areas for 2019 compared to 2018, which have been calculated to support our 2030 science-based targets. LSEG have recognised a need to move to a culture where they are able to produce more with less, and this will be the focus for sustainability action in the coming year.
We are aware of the risks and opportunities for our business arising from climate change and have developed measures to address them. We will actively monitor these changes so we can adapt and respond as necessary.