13 Inizio Sustainability Report 2023 Net Zero 2040 Operational emissions Reporting methodology Inizio accounts for 100% of the What does Net Zero We’ve also obtained SBTi Our base year is 2021, because this GHG emissions over which it has mean for Inizio? validation of our absolute Scope 3 We measure and disclose our Scope 1 and 2 emissions at the beginning of is the first year of available data for financial control but excludes We have committed to reaching emissions target: to reduce each reporting year via our Annual Report and our Sustainability Report. Inizio. Our emissions are calculated Accordience entities who are in the Net Zero by 2040, covering Scope emissions from purchased goods We also report our emissions data in our CDP submission each year. using the ISO 14064-1 standard process of developing a separate 1, 2, and 3 emissions. In line with and services, fuel- and energy- utilizing DEFRA, AIB and USEEIO carbon data collection system. This the SBTi’s Net Zero Standard, we related activities, and business emission factors. is the most suitable consolidation understand that to achieve this travel by 27.5% within the same approach for our business. target, we need to reduce our timeframe. This is the minimum Our carbon emissions are calculated emissions by 90%, followed absolute reduction in Scope 3 and verified by a third party using by the neutralization of emissions that we’ll achieve ISO 1406-3 standard. residual emissions. by 2031. What is a By the end of 2025, we’ll fully align our Net Zero commitment with Scope 1 emissions (tCOe)2 Scope 2 emissions (tCOe)2 science-based target? the SBTi’s Net Zero Standard. Science-based targets (SBTs) Natural gas Electricity Location Rate Fleet Electricity Market Rate lead companies on a clear path Total Scope 1 emissions Total Scope 2 emissions towards decarbonization. They 11,900 establish emission-reductions 12,000 11,620 3,000 2,846 targets (both near-term and long-term) and illustrate how Highlights much and how quickly companies 46.2% 10,000 2,500 need to reduce emissions to 2,315 2,315 2,309 2,309 align with the 1.5°C reduction trajectory, as set out in the Target reduction of 8,009 1,945 1,945 8,000 2,000 Paris Agreement. Scope 1 and 2 emissions 6,773 Inizio has successfully obtained 27.5% 5,713 5,919 SBTi verification of our absolute 6,000 1,500 reduction target for Scope 1 and 2 emissions by 46.2% by 2031, Target reduction of against a 2021 baseline. Scope 3 emissions 4,000 1,000 874 2,000 500 311 708 206 208 0 2021 (base year) 0 2021 (base year) 2023 2022 2023 2022