Russell Reynolds Associates Receives Climate Targets Approval from the Science Based Targets Initiative (SBTi)

News provided by

Dec 05, 2023, 09:31 ET

SBTi approval affirms Russell Reynolds Associates' commitment to reach net-zero greenhouse gas emissions by 2050.

NEW YORK, Dec. 5, 2023 /PRNewswire/ -- Global leadership advisory firm Russell Reynolds Associates (RRA) today announced that the Science Based Targets initiative (SBTi) has validated its goals to achieve net-zero greenhouse gas (GHG) emissions across its value chain by 2050.

The SBTi is a global body that enables businesses to set ambitious emissions reduction targets in line with the latest climate science.

RRA's emissions reduction targets, now affirmed by the SBTi, commit the firm to reduce absolute GHG Scope 1 and 2 emissions by 50% by 2030 and to reduce absolute Scope 1, 2, and 3 GHG emissions by 90% by 2050—both compared to 2019 baseline figures.

SBTi validated additional near-term targets for RRA, which include a commitment to reduce Scope 3 GHG emissions from business travel by 55% per full-time employee equivalent by 2030; and a commitment that 30% of suppliers (by emissions, in selected categories) will set their own science-based target commitments to reduce GHG emissions by 2027.

Using its 2019 GHG emissions as a base year, RRA will annually and transparently report on progress toward its targets.

"It will take bold action to move the needle on climate change, which is why we've committed to achieving net-zero GHG emissions by 2050, compared to 2019 base figures," said Constantine Alexandrakis, President and CEO at Russell Reynolds Associates. "To have these ambitious targets validated by the SBTi is an important milestone in our ongoing journey toward sustainable business practices. We can now move forward with the confidence that our actions are aligned with the goals of the Paris Agreement and that we're playing our part to protect the future of our planet."

"SBTi's validation of our science-based climate targets—in line with globally ratified agreements—brings our sustainable business vision into focus. We recognize the importance of actively reducing the climate impact of our operations, and we're looking forward to working with our colleagues and clients on our net-zero journey," added Pam Fitzpatrick, Global Head of Sustainability at Russell Reynolds Associates. "Although we have up to 27 years to achieve our net-zero goals, the time to act is now. Our near-term targets will focus us on immediate action toward emissions reductions, delivering meaningful impact by 2027 and 2030. As we look toward 2050, we hope that our activity will only accelerate as new technology solutions become available at scale."

Learn more about RRA's net-zero commitments here.

About Russell Reynolds Associates
Russell Reynolds Associates (RRA) is a global leadership advisory firm. Our 500+ consultants in 47 offices work with public, private, and non-profit organizations across all industries and regions. We help our clients build teams of transformational leaders who can meet today's challenges and anticipate the digital, economic, and political trends that are reshaping the global business environment. From helping boards with their structure, culture, and effectiveness, to identifying, assessing, and defining the best leadership for organizations, our teams bring their decades of expertise to help clients address their most complex leadership issues. We exist to improve the way the world is led.
www.russellreynolds.com

Media contact
Amy Scissons
[email protected]
+1 (212) 590-0460

SOURCE Russell Reynolds Associates