Sustainability and Society StrategySource: RNS
24 June 2021
Sage announces Net Zero target as part of new Sustainability and Society strategy
The Sage Group plc ("Sage" or the "Group") today pledges to achieve net zero emissions by 2040, and to halve its carbon emissions by 2030, as part of the Group's ambitious new Sustainability and Society strategy, 'Knocking Down Barriers'. Through this strategy Sage aims to tackle societal and economic inequality, supporting a new generation of diverse and sustainable businesses as well as playing its part in the race to net zero carbon.
Sage's ambition is to be a leading sustainable business. The Group has assessed its carbon footprint for its own activities and for the energy it purchases (Scope 1 and 2 emissions), and across its value chain (Scope 3 emissions), and has recently submitted its commitment letter to the Science-Based Targets initiative (SBTi). Sage has also signed up to the United Nations Global Compact 'Business Ambition for 1.5°C' and the United Nations Climate Change 'Race to Zero'.
Sage is targeting significant emission reductions, in line with a pathway to limit global warming to 1.5°C, the most ambitious goal of the Paris Agreement. Consistent with this, Sage will provide detailed emission reduction plans to the SBTi for verification, and intends to track and publicly update its progress against these plans on a regular basis. As previously communicated in its FY20 Annual Report, the Group will enhance its future reporting in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Achieving Net Zero
Sage is targeting net zero emissions by 2040 across Scope 1, 2 and 3, with an interim target of halving emissions by 2030, from a baseline of FY19. To achieve these targets, the Group will implement emission reduction initiatives including transitioning to renewable energy in all Sage offices, transitioning its car fleet to electric vehicles, and engaging with suppliers to understand better their emission reduction plans and benefit our respective Net Zero journeys. The Group also aims to reduce air travel and hotel stays, and will invest in certified projects to offset any remaining hard-to-decarbonise emissions. Sage intends to publish further information on its roadmap to Net Zero later this year.
Sustainability and Society strategy
'Knocking Down Barriers' is Sage's new sustainability and society strategy, building on the success of Sage Foundation, which was established five years ago as a way for Sage colleagues and partners to give back to their communities. Under this new strategy, Sage aims to tackle economic inequality by supporting people from underrepresented communities around the world to start or grow their own business. Initiatives include partnering with social enterprise MyKindaFuture and JobCentrePlus to provide mentoring and training support to disadvantaged people in the UK to start their own businesses, and partnering with non-profit lending platform Kiva to improve financial inclusion in communities that find it hard to start or grow businesses.
Sage is also dedicating its technology, time and experience to supporting digital equality and diversity, by providing 10,000 children in deprived areas in the North of Tyne Combined Authority with access to STEM skills education, and through further investment in its FutureMakers programme to give young people access to Artificial Intelligence education and awareness.
For more information about Sage's 'Knocking Down Barriers' strategy, please visit the Sustainability and Society section of the Group's website: www.sage.com/en-gb/company/sustainability-and-society.
Steve Hare, Chief Executive Officer, commented:
"Sage is committed to addressing the challenges faced by our communities, society and the environment. Tackling the global climate crisis requires bold action, and through our ambitious plan to reduce carbon emissions and commit to Net Zero, Sage is determined to play its part. Our ambition is to be a leading sustainable business and to support our customers, partners and suppliers to do the same. Through our new Sustainability and Society strategy, we will use our technology, time and experience to back and build a new generation of diverse, sustainable businesses, driving meaningful and positive change."
The Sage Group plc +44 (0) 7900 046714
James Sandford, Investor Relations
Amy Lawson, Media
Finsbury Glover Hering +44 20 7251 3801
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