Mishcon de Reya has today announced its brand new Climate Strategy. The strategy, which can be read here and here reveals that the Firm is committed to being a net zero carbon business, this year and every year, actively working to achieve the most ambitious aim of the Paris Agreement, to limit global temperature rise to 1.5 degrees C above pre-industrial levels.
This innovative approach enables the Firm to stop contributing to atmospheric carbon immediately and provides for meaningful collaboration with stakeholders including suppliers, clients and the MDR Group. It consists of three steps:
- Reduce: Setting science-based emissions reduction targets through the Science Based Targets initiative (SBTi) to reduce emissions by 4.2% annually for the next 10 years, in line with limiting warming to 1.5 degrees C above pre-industrial levels;
- Capture: Committing to offset 100% of our unavoided emissions, through real nature-based carbon capture projects which will also deliver positive biodiversity and social impacts.
- Catalyse: Providing services to enable their clients and people to drive transformation to mitigate and adapt to climate change.
The Firm worked with environmental consultancy Green Element and used the Compare Your Footprint tool to establish its footprint and set its targets.
James Libson, Managing Partner commented: "Today we have brought our longstanding commitment to doing what we can to fight climate change up to date. Through a combination of modern and transparent reporting standards, a commitment to reduce our own emissions and to drive change through our advisory work and leadership we aim, under the guidance of Alexander Rhodes, to set an industry leading example both in how we conduct ourselves and how we advise our clients."
Alexander Rhodes, Head of Mishcon Purpose added: "The pandemic has highlighted the imperative of tackling climate change. We have to decarbonise our economies, and fast, if we are to avoid the worst consequences of a warming planet. The opportunities presented to our clients by the transition to a green economy are significant – as are the risks of leaving it too late. This strategy is the culmination of work from people across all parts of the business and it's delivery is all of our responsibility."
Read the full Climate Change Strategy.