Environment / Oakley: Energy and climate change
Energy and climate change at Oakley
At Oakley, we recognise the role the private equity industry can play in addressing climate change and supporting the transition to a low-carbon economy. As our firm continues to grow, we are committed to monitoring and reducing our operational carbon footprint while actively supporting our portfolio companies in doing the same.
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Our operational carbon footprint
At the firm level, we have measured our operational carbon footprint annually since 2019, and in 2024, we launched our first climate strategy. This included a detailed review of emissions data to improve quality, remove double counting, and identify key hotspots. We also improved our carbon footprint calculation methodology, using actual consumption data for 100% of Scope 1 and 2 GHG emissions and activity-based data for a portion of Scope 3 categories. In 2024, Oakley continued to take steps to tackle sources of operational GHG emissions, which include fugitive emissions from refrigerants, electricity procurement for our offices, and employee business travel.
Please refer to the TCFD section for more information about Oakley's operational emissions.
GHG Scope
Scope 1 (tCO2e)
Scope 2 (tCO2e) (Market-based)*
Scope 3 (tCO2e)
Total (tCO2e) (market-based)
* Pre-2023, Oakley reported location-based Scope 2 GHG emissions only (see our 2022 Responsible Investment Report for historical emissions). However, as the GHG Protocol requires disclosure of both, since 2023, Oakley has reported market-based emissions to reflect its active commitment to reduce its operational footprint by purchasing renewable energy where possible.
** 2020 and 2021 Scope 3 emissions are limited to business travel and employee commuting.
*** Scope 3 emissions only cover operational emissions and exclude category 3.15 financed emissions. 2024 financed emissions are disclosed separately in our Energy and climate change in the portfolio section, and more information can be found in the TCFD report.
Total energy consumption:
413.5MWh
Total renewable energy consumption:
355MWh
Total non-renewable energy consumption:
58.5MWh