We measure and reduce our company’s CO2 footprint. Our office operations are climate-neutral from 2022, and we will offset the footprint of our operations annually.
Greenhouse gas emissions must be reduced significantly to avoid the worst consequences of climate change. Our office operations also generate emissions, mainly from the use of heating and electricity, and from the commuting of our employees.
What have we already accomplished?
We collect data and calculate the total carbon emissions of LHV every year. Year by year, we have expanded the activities included in our calculation. In 2021, the climate impact of LHV’s office operations amounted to 1,447 tonnes of CO2 equivalent, or 2.3 tonnes per employee. In 2020, the result was 865 tonnes, or 1.7 tonnes per employee, and in 2019, the total greenhouse gas emissions of LHV offices were 1,210 tonnes of CO2 equivalent, or 2.6 tonnes per employee at the time of calculation. In 2021, emissions were distributed as follows:
- 31% from the use of electricity and heating;
- 21% from employees commuting;
- 21% from indirect energy and fuel-related impacts;
- 18% from impacts related to fixed assets (e.g., office equipment, furniture, etc.).
We have put together a climate neutrality achievement plan in order to operate more sustainably and reduce our negative environmental impact. We have already made the transition to electricity furnished with a green energy certificate, which has cut emissions by 30%.
We calculated our footprint based on the internationally recognized Greenhouse Gas Protocol.
Offsetting the negative carbon footprint – In August 2021, we started cooperating with eAgronom to offset the negative impact of LHV’s office activities. With the help of eAgronom, we neutralised the impact of our office activities in 2021. Through eAgronom, we support intercropping in agricultural fields. This makes it possible to capture greenhouse gases from air, improve soil quality, and reduce the need for fertilisation.
LHV’s principles for offsetting our negative carbon footprint:
- Offsetting must be an additional activity
- Clarity and transparency of emissions accounting
- Exclusive claim to GHG reductions
- Avoiding of environmental or social harms
What are we planning for the future?
We will repeat and refine the calculation each year. Based on which additional categories we are able to gather reliable data in, we will strive toward a fuller picture. We reduce our climate impact and offset the part we cannot reduce.