At NetNada, we help organisations measure, manage, and reduce their carbon footprints through comprehensive carbon accounting and actionable sustainability strategies. Our partnership with Liverpool Partners, a leader in the financial services industry, demonstrates how businesses can integrate sustainability into their operations while maintaining transparency and efficiency.
Liverpool Partners’ FY24 Carbon Emissions Summary Report highlights their commitment to environmental responsibility, showcasing significant reductions in emissions and a proactive approach to sustainability.
The Challenge
As a financial services firm, Liverpool Partners operates within a sector traditionally associated with indirect emissions, primarily from professional services, corporate travel, energy use, and supply chain activities. While they had already taken steps toward sustainability, they faced several key challenges:
- Expanding emissions reporting to include a more comprehensive Scope 3 assessment.
- Reducing carbon emissions in key operational areas, particularly in professional services, travel, and electricity consumption.
- Engaging suppliers to drive emissions reductions across their extensive network of 356 unique vendors.
To continue their sustainability progress, Liverpool Partners required detailed emissions tracking and strategic recommendations to identify and act on their highest-impact areas.
NetNada’s Strategic Approach
To support Liverpool Partners’ sustainability objectives, NetNada implemented a structured carbon accounting framework aligned with the Greenhouse Gas (GHG) Protocol. This approach ensured accurate emissions tracking and provided clear insights into their Scope 1, Scope 2, and Scope 3 emissions.1.
1. Comprehensive Emissions Reporting
Liverpool Partners’ FY24 Carbon Emissions Summary Report provided a full breakdown of their total emissions (678.250 tCO₂e), which decreased by 41% from FY23 (1,158.299 tCO₂e). The emissions were distributed as follows:
- Scope 1 (Direct Emissions): 0.000 tCO₂e, reflecting operational efficiencies with no recorded direct emissions.
- Scope 2 (Indirect Emissions): 30.982 tCO₂e, from purchased electricity, increasing from 7.447 tCO₂e in FY23 due to expanded operational needs.
- Scope 3 (Other Indirect Emissions): 647.268 tCO₂e, covering supply chain activities, professional services, and corporate travel. This represents a 44% reduction from FY23 (1,150.852 tCO₂e) due to focused sustainability initiatives.
2. Identifying High-Impact Emission Sources
Through NetNada’s detailed emissions analysis, Liverpool Partners gained valuable insights into their key emissions categories:
- Professional Services – 281.61 tCO₂e
- The largest contributor to Scope 3 emissions, highlighting the need for sustainability engagement with vendors and procurement policies focused on low-carbon services.
- Food and Hospitality – 182.23 tCO₂e
- Events and corporate hospitality accounted for significant emissions, prompting opportunities for sustainable sourcing and carbon-conscious event planning.
- Travel (Air & Land Transport) – 73.65 tCO₂e
- Business travel remained a key contributor, reinforcing the importance of optimising travel policies and exploring lower-carbon alternatives.
- Electricity Use – 30.982 tCO₂e
- A significant increase from FY23’s 7.447 tCO₂e, indicating the need for energy efficiency improvements and renewable energy adoption.
3. Supply Chain Engagement for Sustainable Growth
Liverpool Partners’ 356 suppliers contributed significantly to their emissions profile. By enhancing supplier engagement, they can:
- Encourage sustainable practices among key vendors.
- Incorporate emissions data into procurement decisions.
- Drive collective action toward lower supply chain emissions.
Results and Benefits
Through their collaboration with NetNada, Liverpool Partners achieved several key sustainability milestones:
- 41% Reduction in Total Emissions:
- A significant decrease from 1,158.299 tCO₂e in FY23 to 678.250 tCO₂e in FY24.
- Scope 3 emissions saw a 44% reduction, demonstrating focused supply chain engagement and emissions-conscious business decisions.
- Expanded and More Accurate Reporting:
- A more detailed Scope 3 assessment enabled Liverpool Partners to track emissions across all operational areas and establish a baseline for future reductions.
- Strategic Focus on Professional Services & Travel:
- With professional services as the largest contributor, Liverpool Partners now has clear supplier engagement strategies for sustainable procurement.
- Travel and hospitality emissions insights will support policy improvements and sustainable travel initiatives.
- Opportunities for Renewable Energy Adoption:
- The increase in Scope 2 emissions presents a key opportunity to transition to renewable energy sources and implement energy efficiency measures.
Conclusion
Liverpool Partners’ FY24 Carbon Emissions Summary Report marks a major milestone in their sustainability journey. Their commitment to expanding emissions reporting, reducing Scope 3 emissions, and improving operational sustainability sets a strong example for the financial services industry.
At NetNada, we are proud to support Liverpool Partners in achieving their environmental goals. Through precise carbon accounting, data-driven insights, and strategic guidance, we help businesses take meaningful action toward sustainability.
Looking to integrate sustainability into your business operations? Contact NetNada today to learn how our carbon accounting solutions can help you track, reduce, and report emissions effectively.
