Sage's Net-Zero Target Receive SBTi Validation
FTSE 100 tech company also receives A- rating from the Carbon Disclosure Project
ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) -- , the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), today confirmed its net-zero targets have been validated by the Science Based Targets initiative (SBTi).
Sage’s net-zero targets span all three emission scopes, aiming to achieve net-zero greenhouse gas (GHG) emissions across the value chain by 2040. As of the issuing of this press release, there were just over 3100 companies globally with an approved net-zero target, making Sage an early responder in business' fight against climate change.
To achieve its net-zero goals, Sage has already committed to against a 2019 baseline, in line with the goals of the Paris agreement of 2015 – these near-term targets were approved by SBTi in 2023.
The SBTi is a collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), and one of the We Means Business Coalition commitments. It defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
The company is hoping to make progress against its target sets through four specific areas:
- Sustainable supply chain: To manage emissions across its value chain, Sage is requesting its suppliers to disclose accurate and verified primary emissions data allocated to Sage via CDP. It is also engaging with suppliers with the highest emissions to secure reduction commitments from them, and asking suppliers without Science-Based Targets (SBTs) to set one. Lastly, Sage is guiding its SMB suppliers on steps they can take to measure and reduce their own emissions.
- Sustainable colleague behaviour: One of Sage’s goals is to empower its colleagues to be agents of change on its net-zero journey. The company has launched plans to improve climate awareness and action amongst colleagues, such as launching a carbon literacy programme, to influence positive action.
- Sustainable products: In addition to educating colleagues, Sage will educate customers about the environmental impacts of technology usage – for example, the benefits of choosing to host products and services within efficient cloud environments. The company is also working to provide information and tools so businesses can measure, monitor and reduce the carbon impact of their work, with being a first step in that direction.
- Sustainable property: Lastly, Sage will examine its property impact, such as the energy and carbon performance of its workspaces, especially in a hybrid work environment. Currently, 68% of its global electricity consumption is sourced from renewable energy (against a 2019 baseline of 27%), which Sage wants to build on.
Sage’s climate ambitions have been recognised by The Carbon Disclosure Project (CDP), a global non-profit that runs the world’s leading environmental disclosure platform. CDP awarded Sage an A- leadership rating for setting high-quality best practices around environmental transparency, and performance in the fight against climate change. Sage also received an A- rating for its work in supplier engagement -- encouraging suppliers to take action to reduce their emissions-- which is factored into the overall score.
A leadership rating is only awarded to organisations that show environmental leadership and disclose action on climate change. , Sage’s A- rating is higher than the current European average of B, and higher than the IT & software development sector average of C. Notably, Sage was one of 13% of companies in the IT and software services category, to receive a leadership rating.
David Harrop, Climate Director at Sage said: "The fight to keep the rise in temperatures at 1.5C is critical, and one we’re committed to. Not only are we trying to ensure Sage is a leader in the fight against climate change, we also want to share our learnings and successes with our wide ecosystem of customers, suppliers and partners to help progress amongst our stakeholders. The validation from SBTi and CDP, two organisations guiding corporate sustainability action, is very welcome as a much-needed vote of confidence that we’re on the right track.”
To read more about Sage’s sustainability efforts, including its Sustainability & Society strategy, please visit:
About Sage
Sage exists to knock down barriers so everyone can thrive, starting with the millions of small- and mid-sized businesses served by us, our partners and accountants. Customers trust our finance, HR and payroll software to make work and money flow. By digitising business processes and relationships with customers, suppliers, employees, banks and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology, and experience to tackle digital inequality, economic inequality and the climate crisis. Learn more at .
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