Crest’s Carbon Net Zero Plan



Why

 

Crest Advisory, like most companies, emits greenhouse gasses and relies on physical and digital infrastructure that has an adverse impact on the environment’s equilibrium upon which we depend to be able to continue to trade over time.


Crest is an information-based business. Due to the digital nature of our day to day work, Crest’s activities are energivore. A rough calculation suggests that Crest has a scope 1 and 2 digital emission of 37-127 metric tons of CO2 per year (depending on assumptions regarding video conferencing). This includes energy used to run our laptops, emails, video calls, and the energy used to produce our phones and laptops (averaged out over their use-cycle).


For comparison, current estimates for the target carbon footprint per person might range from 2 to 3 tons CO2e per person to limit warming to below 1.5 degrees. To put this into context, the global average is 4.5 tons (per person, per year), and the U.S. average per person is 17.5 tons per person per year. Crest’s digital footprint alone contributes to 1.4 to 4 tons per annum to each of our personal carbon budget/footprints.


What can we do?

 
  • Understand our impact and responsibilities better;

  • Explore our options to address any issues;

  • Build a strategy or action plan to address company priorities;

  • Run a staff awareness campaign; and,

  • Prepare communication plans and disseminate material to enhance Crest’s focus to address the climate emergency


Concrete actions

 

Below are key actions which could be used to mitigate the impact described above:

  • Sign up to the SME Climate hub commitment - Complete

  • Request that our office-based energy (for wifi, running electronic devices etc.) is provided by a renewable energy provider - Complete

  • Provide information so that individual employees can individually switch to renewable energy providers in their personal homes, given that much, if not most, professional activity is currently occurring from private homes. The current cost of renewable energy for individuals is comparable, and sometimes lower than nonrenewable sources. Furthermore, there are financial incentives available to support individuals interested in switching. Crest could support an information sharing operation - To complete in 2022 Q1

  • Consider offsetting the greenhouse gasses: There are different models of certified offsetting credits which range from funding the roll-out of less carbon intensive technology to carbon removal activities like soil restoration and tree planting. There also exist one-off models like the Carbon Footprint or subscriptions based models, such as Ecologi - To complete in 2022 Q1

  • Software shift: Encourage its employees to use sustainable software, including search engines such as Ecosia and Lilo.

  • Pensions: Research has shown that pension funds have an astounding impact, so Crest will gather information about its current provider and make an informed decision about whether to stay with current provider or change - To complete in 2022 Q1

  • Reduce our footprint of physical infrastructure: Explore how we can reduce our footprint of physical infrastructure and processes by considering the current impact of:

  • Lights

  • Heating

  • Paper/printing

  • Stationary

  • Food/composting

  • Travel

- To complete in 2022 Q2

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