Transport Capital has always believed that efficient and sustainable operations are key to long-term success and value creation. When we embarked on our sustainability journey in 2020, we set out to continuously improve how our businesses operate to align with our ESG goals and values. For instance, we made a commitment to reduce Scope 1 and 2 carbon intensity by 40% by 2030 as published in our Sustainability Report. We also plan to reduce Scope 3 emissions by reducing air travel per employee by 40% by 2025.
While we had better control over reducing and offsetting our carbon emissions under Scope 1 and Scope 3, we were faced with a challenge with Scope 2. Being a small tenant in a large office building, we were not able to convince our landlord to switch to renewable power.
In alignment with sustainability disclosure best practices, we monitor our electricity consumption and track our Scope 2 emissions. From there, we found it important to take a more active role in achieving Net-Zero. We are happy to share that we have embarked on a commitment to purchase Renewable Energy Certificates (RECs) for all the electricity consumption of our Singapore HQ, in order to meet our Carbon Neutrality & Renewable Energy Goals.
One REC is equivalent to 1,000 kWh of renewable energy; thus these 11 RECs will offset the total of 10,871 kWh of electricity that was consumed by our Singapore headquarters in 2020. We reached out to SP Group to acquire these RECs and the process was simple and straightforward.
Here is a list of potential benefits we have found in purchasing REC:
- Reducing carbon footprints to meet corporate and industry goals.
- Providing a simple and effective way to use renewable energy generation even when one doesn’t have control over the supply of electricity.
- Supporting the renewable energy market on a broader scale by creating higher demand for renewable energy to be generated.
- Flexibility to choose local or global sources.
- Encouraging dialogues about renewable energy and creating better awareness within the community.
An integral part of our culture is to make a difference – not only to our network, but also to the society and environment around us. If you would like to know more about the purchase of RECs, click here to read about it on SP Group.
