Oliver Wyman Achieves CarbonNeutral® Status
Jun 5, 2020
New York, June 5, 2020…. Global consulting firm Oliver Wyman today announced it is certified as a CarbonNeutral company as of June 1, 2020, for reducing greenhouse gas emissions associated with the operations of its business to zero in the 2019 calendar year.
Working with Natural Capital Partners, the leading experts on carbon neutrality and climate finance, Oliver Wyman conducted a comprehensive review of its emissions from business operation and travel to calculate its 2019 greenhouse gas (GHG) emissions for Scopes 1, 2, and select Scope 3 (e.g. business travel) using the rigorous CarbonNeutral Protocol, the leading framework for carbon neutrality.
“Achieving carbon neutrality shows our commitment to sustainability is not only the right thing to do for our world, it’s a business imperative,” said Scott McDonald, President and CEO, Oliver Wyman. “We have prioritized sustainable decision making, looking for opportunities to improve across every department and process.”
Oliver Wyman has also set in motion a long-term strategy to integrate sustainability into its operations. To offset the emissions it could not reduce, Oliver Wyman conducted an extensive review of offset projects and selected a diversified portfolio that reflects its values, global footprint, and the projects’ opportunity for impact. It is supporting the following projects:
- Rimba Raya Biodiversity Reserve REDD+, Indonesia - Protecting 65,000 hectares of forest by engaging local communities through education and agroforestry training
- Portfolio - Indian Renewable (example project, Theni wind), India - Tackling India’s energy shortage and increasing demand by enhancing renewable energy capacity
- Danjiang River Solar Cookers, China - Distributing free solar cookers to low income households, bringing health and financial benefits to more than 300,000 people
- Soma Wind Power, Turkey - Delivering essential renewable energy capacity in a country with rapidly growing greenhouse gas (GHG) emissions
- Seneca Meadows Landfill Gas, USA - Reducing the environmental impact of a landfill site through methane capture, electricity generation and wetland enhancement
- Truck Stop Electrification Project (USA) – Developing sustainable infrastructure by preventing large amounts of idling emissions from being released into the atmosphere
“The voluntary action taken by companies like Oliver Wyman is accelerating the transition to a net zero economy, delivering impacts and results today according to a well-established and transparent framework of best practice,” says Saskia Feast, Vice President, Natural Capital Partners. “Oliver Wyman is funding sustainable development in areas where it’s needed most—building sustainable infrastructure, conserving and creating natural climate solutions, and improving health and livelihoods.”
Today’s announcement furthers Oliver Wyman’s commitment to the environment. Working with the United Nations Environment Programme Finance Initiative, Oliver Wyman led the way on understanding the crucial role the financial-services industry plays in the transition toward a lower-carbon economy. The company’s sustainability experts across a range of sectors such as energy, transportation, and retail, work with clients to reimagine end-to-end supply chains, de-carbonize business models, and integrate new technologies to support a transition to renewables.
“As we celebrate this important milestone, we also recognize that this is just the first step on a much longer journey to reduce our carbon footprint as much as we can, while discovering innovative and impactful ways to contribute positively to the environment,” said Lauren Wylie, Oliver Wyman’s leader for internal sustainability.