On 28 June 2022, Euronext announced its science-based climate targets to reduce greenhouse gas emissions in alignment with the Paris Agreement, based on the framework provided by the Science Based Targets initiative (SBTi). These targets support Euronext’s recently announced "Fit for 1.5°” commitment to net zero through the “Business Ambition for 1.5°” initiative in partnership with the United Nations Climate Change “Race to Zero” campaign. Euronext’s ESG commitment is a key pillar of Euronext’s “Growth for Impact 2024” strategic plan announced in November 2021. Euronext is expecting to obtain validation of the targets by the SBTi by the end of 2022.
Setting Euronext’s long-term targets
Applying the SBTi methodology to Euronext’s emissions leads to the formulation of the following targets:
Operational emissions contraction target
- By 2030, Euronext will reduce its Scope 1 and Scope 2 market-based greenhouse gas emissions by 70% compared to 2020;
- By 2030, Euronext will reduce its Scope 3 travel emissions by at least 46.2% compared to 2019.
Supplier engagement target
- By 2027, Euronext suppliers, representing 67% of Euronext’s greenhouse gas emissions derived from purchased goods and services, must set science-based targets on their Scope 1 and Scope 2 emissions.
These emissions reduction or contraction targets cannot be achieved through the purchase of offsetting credits.
Roadmap to achieving these targets
- Scope 1 emissions will be reduced through consolidation and energy efficiency upgrades in the building portfolio, energy efficiency investments, decommissioning of gas-fired boilers and decarbonisation of the vehicle fleet;
- Scope 2 emissions will be reduced by moving office space and data centres to renewable energy, including through the move of Euronext’s Core Data Centre to the Aruba Data Centre near Bergamo, Italy. The new Core Data Centre is powered 100% by renewable energy sources and self-produces energy through solar panels and its own hydroelectric power stations;
- Travel emissions will be reduced by implementing a sustainable travel programme;
- Euronext will engage its key suppliers directly and will deploy a new supplier onboarding platform, which will support the ‘Euronext Supplier Code of Conduct’, including provisions regarding environmental protection, human rights, diversity and inclusion;
- Euronext will engage its staff through Climate Workshops, organised in partnership with Climate Fresk, which aim to develop awareness and ability to act by keeping environmental impacts in mind, at both individual and company level. The target is to train at least 30% of the global Euronext staff by the end of Q3 2022.
Click below to read our announcement.