L.E.K. Consulting Emissions Reduction Targets Approved by Science Based Targets Initiative

Near- and Long-Term Targets Align with SBTi's 1.5°C Mitigation Pathways for Reaching Net-Zero Greenhouse Gas Emissions by 2050

BOSTON, Sept. 28, 2023 /PRNewswire/ -- L.E.K. Consulting today announced that the Science Based Targets initiative (SBTi) has validated its ambitious science-based emissions reduction targets to reach net-zero greenhouse gas (GHG) emissions by 2050, making it the first major global strategy consultancy to have a net-zero target approved by the SBTi.

Last year, L.E.K. joined the SBTi and committed to set near- and long-term emissions reduction targets in line with the latest climate science. The SBTi has now verified that L.E.K.'s targets are aligned with the trajectory required to limit global warming to 1.5°C above pre-industrial levels, in accordance with the Paris Agreement to prevent the worst effects of climate change.

L.E.K. Consulting's approved science-based emissions reduction targets include:

• Overall net-zero: Reach net-zero GHG emissions across the value chain by 2050.
• Near-term: Reduce absolute scope 1 and 2 GHG emissions 33.6% by 2027 from a 2019 base year; and reduce scope 3 GHG emissions from business travel 44% per headcount by 2027 from a 2019 base year.
• Long-term: Reduce absolute scope 1 and scope 2 GHG emissions 90% by 2050 from a 2019 base year; and reduce scope 3 GHG emissions 97% per headcount by 2050 from a 2019 base year.

"The SBTi's approval of our net-zero targets is a significant milestone in our corporate sustainability journey that started in 2008, when L.E.K. was the first major strategy consultancy to achieve carbon-neutral status. It is the strongest commitment we can make to reducing our emissions and taking action on global warming. We are delighted that SBTi has approved our ambitious target, which for us serves as a reaffirmation of our long-term commitment to decarbonization goals," said Clay Heskett, L.E.K. Global Managing Partner.

The SBTi is a global collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature, and one of the We Mean 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.

L.E.K. has developed a carbon emissions transition plan that sets out its ambitions, actions and how the firm will hold itself accountable to deliver on its future decarbonization goals. According to L.E.K.'s just-published sustainability report, the plan includes enacting a pathway to reduce Scope 3 business travel emissions, reducing energy consumption in all offices globally to lower Scope 1 and 2 emissions and promoting circularity and minimizing waste. L.E.K. is also collaborating with suppliers to establish more sustainable procurement policies.

As of 2022, L.E.K. has already made strong progress toward its environmental goals, with a 26% reduction in total emissions compared to 2019. Part of this reduction can be attributed to the firm's transition to 100% renewable electricity in 2022.

To learn more about sustainability at L.E.K., please read the inaugural L.E.K. 2022 Sustainability Report.

About L.E.K. Consulting
We're L.E.K. Consulting, a global strategy consultancy working with business leaders to seize competitive advantage and amplify growth. Our insights are catalysts that reshape the trajectory of our clients' businesses, uncovering opportunities and empowering them to master their moments of truth. Since 1983, our worldwide practice — spanning the Americas, Asia-Pacific and Europe — has guided leaders across all industries, from global corporations to emerging entrepreneurial businesses and private equity investors. Looking for more? Visit www.lek.com.

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SOURCE L.E.K. Consulting LLC