Guidance and resources

Measure your organisation’s emissions to determine a baseline and identify key impact areas 

We expect our suppliers to calculate and publicly disclose their total corporate carbon footprint in CO2 equivalent emissions (CO2e), including Scope 1, Scope 2 and Scope 3. This serves as a baseline for setting reduction targets.   

We do not specify a particular calculation methodology, as companies may opt for industry- or region-specific approaches. However, we recommend following the Greenhouse Gas Protocol, widely acknowledged as the standard for carbon accounting.  

We expect data to be complete, consistent and accurate and verified by a third party, either through limited assurance by an external auditor or by engaging an external consultant for verification.   

Greenhouse Gas Protocol 

The GHG Protocol Corporate Standard classifies a company’s greenhouse gas (GHG) emissions into three different scopes: Scope 1, Scope 2 and Scope 3.  

• Scope 1 emissions are the direct GHG emissions that occur from sources owned or controlled by the company. For instance, this includes emissions from combustion in company-owned or controlled boilers, furnaces, and vehicles.  Refer to the Corporate Accounting and Reporting Standard for more information. 

• Scope 2 emissions are indirect GHG emissions from purchased or acquired electricity and heat consumed by the company. Purchased electricity refers to electricity that is bought or otherwise brought into the company’s organisational boundary. Scope 2 emissions occur at the facility where the electricity is generated. These emissions should to be reported using both market-based and location-based approaches, also know as “dual reporting”. For more details consult the GHG Protocol Scope 2 Guidance.  

• Scope 3 emissions are all other indirect emissions both upstream and downstream in an entity’s value chain. Scope 3 emissions are categorised into 15 distinct categories, designed to provide companies with a systematic framework to organise, understand and report on the diversity of scope 3 activities within a corporate value chain. Refer to Corporate Value Chain Scope 3 Standard and the Technical Guidance for Calculating Scope 3 Emissions for more information. 

Recommended tools for SMEs 

We recognise that calculating emissions can be an overwhelming task for SME suppliers. Therefore we recommend the SME Climate Hub, a non-profit global initiative that helps small- to medium-sized companies deliver their climate goals. The SME Climate Hub offers a free-to-use Business Carbon Calculator to estimate your company’s full carbon footprint and to find quick-win actions to reduce emissions.  

Set near-term science-based carbon targets via the SBTi and disclose your targets publicly  

Euronext expects its suppliers to set a public emissions reduction target aligned with the latest SBTi criteria.  

Suppliers can make their targets public on their company webpage, in their annual report, via the non-profit organisation CDP, or similar channels.  

Large Companies 

Large vendors should publicly commit to reducing greenhouse gas emissions through the Science Based Targets initiative (SBTi) by signing the SBTi-Commitment-Letter.pdf (sciencebasedtargets.org) following steps below:   

1. Register online via the SBTi Commitment Application Form

2. Sign the commitment document  

3. Return a signed copy to commitments@sciencebasedtargets.org  

Once processed, your organisation will be recognised as "Committed" on the SBTi website and the partner websites of the UN Global Compact and We Mean Business. You will then have 24 months to submit your company’s targets to the SBTi.  

Large companies must set a reduction target for Scope 1 and Scope 2 emissions. If a company’s Scope 3 emissions account for 40% or more of its total emissions, these must also be included in the near-term science-based targets.  

SMEs  

Vendors meeting the specific criteria of an SME as detailed by SBTi should set science-based targets (near-term and net-zero options available) by choosing from one of the predefined target options available in the SME Streamlined Target Validation Route.   

This route allows SMEs to bypass the standard target validation process and to immediately set science-based targets for their Scope 1 and 2 emissions. Unlike larger companies, SMEs are not required to set targets for their Scope 3 emissions; however, SMEs must commit to measuring and reducing their Scope 3 emissions.  

Once the targets have been verified by the SBTi, they will be published on the SBTi website, and the partner websites of the UN Global Compact and We Mean Business.   

Reduce your company’s emissions in line with your reduction targets both within your own operations and in your value chain 

We expect our vendors to take the necessary actions to achieve their carbon reduction targets.  

For more guidance, we recommend the 1.5°C Business Playbook, a handbook for companies that want to align with the 1.5°C climate ambition through concrete action. It offers comprehensive guidelines for setting climate targets, strategies, transition plans, taking action and disclosing results. 

Annually measure and publicly disclose your company’s CO2e emissions to ensure transparency 

Euronext suppliers are expected to disclose their corporate carbon footprint (Scopes 1,2 and 3) on an annual basis via the Carbon Disclosure Project  (CDP) or an alternative method provided by Euronext. The disclosed data must be complete, consistent, accurate and verified by a third party.  

Euronext has committed to setting science-based quantitative climate targets by signing the “Business Ambition for 1.5°C”, a campaign led by the Science Based Targets initiative in partnership with the UN Race to Zero commitment. 

Euronext’s upgraded greenhouse gas emissions reduction targets were validated by the Science-Based Targets initiative (SBTi) in February 2023:

• By 2030, Euronext will reduce its absolute Scope 1 and Scope 2 emissions by 73.5% compared to 2020
• By 2030, Euronext will reduce its Scope 3 travel emissions by at least 46.2% compared to 2019
• By 2027, Euronext suppliers, representing 72% of Euronext’s greenhouse gas emissions derived from purchased goods and services, must set targets on their Scope 1 and Scope 2 emissions.

To meet these decarbonisation targets, Euronext has developed a comprehensive action plan and put in place a dedicated governance structure to mobilise internal stakeholders and ensure integrated implementation.

Key actions include:

• Enhancing and increasing investments in energy efficiency within our building portfolio, and monitoring temperature in offices;
• Phasing out gas-fired boilers and decarbonising our vehicle fleet;
• Moving office spaces and data centres to renewable energy. A major decommissioning plan is underway and will be completed in 2024. As part of this, we have relocated our Core Data Centre to the green Aruba Data Centre near Bergamo, Italy, which is powered entirely by renewable energy sources and self-produces energy through solar panels and its own hydroelectric power stations;
• Implementing a sustainable travel programme and setting carbon budgets per department;
• Engaging with Euronext's key suppliers directly and deploying a new supplier onboarding programme, which will enable Euronext to track its suppliers’ ESG engagement. Euronext will progressively work exclusively with suppliers which are SBTi compliant;
• Training Euronext's staff through Climate Workshops, organised in partnership with Climate Fresk and Digital Fresk, fostering awareness and action on environmental impacts at both individual and company level.