Palladium’s path towards net zero began simply. Rather than wait for the perfect solution, we started where we could as soon as we could.
First, our teams came up with a simple way of calculating our total carbon emissions for 2019, with the ultimate goal of finding a way to offset those emissions. While many organisations and governments purchase carbon offsets or credits via third party vendors, we challenged ourselves to come up with a more ambitious, innovative, and impactful solution, and designed our own carbon offsetting project.
Working with local NGO Acaté Amazon Conservation, our project is regenerating 40 hectares of land in the Peruvian Amazon while training the local indigenous community in sustainable agroforestry practices, improving their livelihoods, and providing them with income-generating opportunities to preserve their culture.
Since then, our means of measuring our carbon emissions have become more sophisticated. We’ve worked with external partners and updated our measurement processes to be as accurate and ambitious as possible, including all activities within both our financial and operational control.
“The reality is that the climate crisis will not be solved by offsetting and carbon credits alone.”
Of course, measurement is a means to an end, and for us, that end is Net Zero by 2050, with accelerated emissions reduction targets approved by the Science Based Targets initiative along the way. These include cutting direct emission to power both our buildings and fleet in half and cut emissions from corporate business travel per employee in half by 2030.
The reality is that the climate crisis will not be solved by offsetting and carbon credits alone. Tackling climate change will and does require a massive shift across every sector, from public to private and beyond, in the ways in which we do business and go about our daily lives. Through a collection of local Net Zero Action Plans developed in 2022, we’re putting our focus and resources on carbon reduction.
We also focused part of our annual Challenge Fund on the theme ‘What is the Value of Nature?’ The Fund is designed to source innovative responses to global challenges, paid for from our own profit and implemented by our partners at Kyeema Foundation.
As a leader in environmental project management, we’re eager to demonstrate proof of concept for more ambitious solutions that achieve positive impact, while ensuring that we continue to walk the talk in alignment with our partners and clients around the world.
Download Our Global Impact 2022 to learn about our 300+ projects spanning 90 countries and 6 continents.