Mazars keeps promise to play its role in mitigating climate change by signing up to the Science Based Targets initiative (SBTi)

Hervé Helias, CEO and Chairman of Mazars Group, commented: “If COP27 taught us anything, it’s that we need everyone, including the private sector, to commit to climate action if ambitious targets set are to be reached. Our only chance of halving greenhouse gas (GHG) emissions by 2030 and reaching net zero by 2050 is if we take collective action. With time against us, every sector in every market must transform. We at Mazars plan to play our part.” 

A standardised, robust and science-based approach

The SBTi’s Corporate Net-Zero Standard is the world’s first framework for setting corporate net zero targets in line with climate science. It includes internationally acknowledged guidance, criteria and recommendations that companies need to set science-based net zero targets consistent with limiting the rise in global temperatures to 1.5°C, as set out in the Paris Agreement. It gives business leaders clarity and the confidence that their near- and long-term targets are aligned with climate science, helping to ensure a habitable planet for all.

Why commit?

By signing up to the SBTi, Mazars underlines its commitment to adopting a robust net zero pathway. Climate change is a global priority for everyone and Mazars makes this pledge because it fundamentally believes the world is facing an existential crisis. Given the current levels of emissions, no one can afford not to care and not to act while there is still time. 

The only way for businesses to contribute to a better future is through implementing change and switching to ESG-conscious, responsible operating models. Sustainability, stewardship and serving the public interest have always been at the core of Mazars’ identity. Undergoing a sustainable transformation is not just right for the firm, it is also in the best interest of people, the planet and society.

The SBTi offers a clear pathway to reaching net zero that, due to its focus on transparency, can be easily understood, tracked and communicated. This ability to demonstrate our commitment and strategy is increasingly important for our stakeholders, including business partners as well as current and future talent. Finally, by signing up to the SBTi, Mazars also hopes to leverage its influence to encourage others in the private sector to commit to a science-based emissions reduction pathway. 

Next steps for Mazars 

Mazars will now:

1. Calculate its global emissions footprint, leveraging data from the 100+ countries it operates in, and establish a baseline.
2. Engage with its leaders across all regions and countries to thoroughly examine its value chain identifying key sources of emissions and the actions necessary to reduce them.
3. Calculate and set targets by which it will reduce emissions across Scopes 1, 2 and 3, firstly in the near-term, identifying targets to meet by 2030 and then identifying long-term targets to meet by 2050, in line with the SBTi guidelines.
4.  Communicate on its targets to inform internal and external stakeholders and report on its global emissions and progress against targets on an annual basis.

The next two years will be crucial for Mazars as it embarks on this journey. The firm has already started building engagement across the 100+ countries where it operates to not only gather data but also help colleagues understand the importance of climate action. As auditors and advisors, Mazars understands the value of numbers, especially in this context. Over the next few months, the firm will work meticulously on its data, and expects to be able to share transparently its total emissions across all three scopes of the GHG Protocol in 2023. It will then rapidly follow up with further specifications on the science-based targets developed and submitted to the SBTi for approval as part of its net zero trajectory.

In conclusion, Helias remarked: “By committing to the SBTi, we are staying true our DNA to act responsibly via a realistic, achievable and transparent approach. We intend to use the experience we gain on this journey to share key learnings with our stakeholders. We are convinced that complex issues require the power of collective intelligence, and it is only by working together that we can successfully navigate the challenges ahead and act on the promises we make.