In January 2021, we received a rating of A (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.
A state when no incremental emissions are released into the atmosphere. It is achieved when absolute emissions are reduced to as close to zero as possible, and any remaining emissions are taken back out of the atmosphere through carbon sequestration (such as tree planting).
The first step to becoming net zero is to set science-based targets to cut emissions to as close to zero as possible and to keep global temperature increase to no more than 1.5°C compared to pre-industrial levels.
Science-based targets (SBTs)
These are globally aligned goals to ensure we are committing to emission cuts in line with the latest independent climate science. Our carbon reductions align to what scientists say is needed to limit warming to 1.5°C compared to pre-industrial levels and avoid the worst effects of climate change to safeguard human life on earth.
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Scope 1, 2 and 3 emissions
This is a way of categorising the different kinds of greenhouse gas emissions a company creates in its own operations and value chain.
Emissions created by the business itself. These are emissions from owned or controlled sources including buildings operated by Bupa and company vehicles.
Emissions from the energy a business uses to operate. These are indirect emissions from the energy (electricity, heat, steam) purchased to keep Bupa running. Energy from renewable sources have zero emissions associated with them, whereas as brown energy does.
The emissions created by other entities to service the business. These are emissions from activities outside of our direct control, e.g emissions from a health treatment a customer claims for (and customer travel to that treatment), emissions from our investments, emissions from the products and services we use.
Materiality assessment is the process of identifying, refining, and assessing numerous potential environmental, social and governance issues that could affect your business, and/or your stakeholders, and condensing them into a short-list of topics that inform company strategy, targets, and reporting.