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CDP3 rating
B
99%
of our Scope 3 emissions is air travel

Energy and emissions

Our largest environmental impacts are our greenhouse gas (GHG) emissions, which come from two main areas: energy usage in our offices, which we continually work to reduce, and employee travel.

Invesco has carbon targets that focus on reducing emissions at the property level and in our business travel. In 2020, we exceeded these targets. This was a result of ongoing energy efficiency initiatives at our offices, as well as significantly less corporate energy usage and travel, due to COVID-19. We are also working on developing ambitious targets that will align with Science Based Targets (SBTi) for energy and emissions reductions for our corporate operations, due to be introduced in 2021. These include a year-on-year reduction of 4.2%, achieving a 46% reduction by 2030 from a 2019 baseline.

Measuring emissions

Our energy and GHG emissions data is calculated through the World Resources Institute Greenhouse Gas Protocol using the operational and Scope 2 location-based approach that considers headcount and a portion of our leased workspaces. In 2020, calculations covered 14 of our offices in Canada, Germany, India, Ireland, the U.K. and the U.S., which makes up 72% of Invesco’s total headcount. We are currently working on expanding the scope and depth of our emissions reporting across our global properties.

Energy Usage and Mix1,2
Unit Kilowatt hour (kWh)

2019

Electricity (grid)		 28,156,709
Natural Gas		 4,193,603
Total		 32,350,312

2020

Electricity (grid)		 22,337,589
Natural Gas		 3,425,941
Total		 25,763,530

Over the past year, electricity use decreased by 21% and natural gas reduced by 18%, for an overall energy use reduction of 20%.

In 2020, our combined Scope 1 and 2 emissions totaled 9,117 tons, an overall reduction of 21% from the previous year. Air travel makes up 99% of our Scope 3 (business travel) emissions, while rail makes up the other 1%. In 2020 we also experienced a 74% decrease in Scope 3 emissions as a result of Invesco’s policy to halt business travel at the start of the COVID-19 pandemic.

Scope 1 Emissions1 (natural gas)
Tons of carbon dioxide equivalent (tCO2e) units

2018-2020

2019		 801
2020		 617

Scope 2 Emissions1 (electricity)
Tons of carbon dioxide equivalent (tCO2e) units

2018-2020

2019		 10,784
2020		 8,500

Scope 3 Greenhouse Gas Emissions
Tons of carbon dioxide equivalent (tCO2e) units

2018-2020

2019		 20,944
2020		 5,426

Travel decreased in 2020 due to COVID-19-related restrictions.

  1. Note that these metrics do not include OppenheimerFunds offices. These are not ISO 14001 certified facilities, and they did not have the resources in place at the time of reporting to provide the necessary data for the calculations.
  2. 2019 figures have changed from the 2019 Invesco CR Report, due to revised figures provided by landlords.
  3. CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.

Offsetting carbon emissions for a healthier planet waste

To offset the Scope 3 emissions we create due to our corporate travel, Invesco partners with ClimateCare, an environmental and social impact company known for providing carbon offset services with a focus on using results-based finance to support its projects. Invesco currently supports two ClimateCares projects that offset 5,426 tCO2e (tons of carbon dioxide equivalent) in 2020.

Rimba Raya Biodiversity Reserve in Indonesia

The Reserve had been slated by the regional government for conversion to four palm oil estates. By obtaining tenure rights to the area for the 30-year lifetime of the project, the Reserve is working to protect around 160,000 hectares of tropical rainforest and peat swamp. This project is expected to reduce more than 130 million tonnes of CO2 over its 30-year span.

Cookstove access with the Bangladesh Bondhu Foundation

Fewer than 20% of Bangladeshi households have access to clean cooking, instead using open fires that release pollutants into the environment and cause respiratory and other diseases. This project, which works with microentrepreneurs who receive training to help sell the stoves, is helping to build a market for clean, sustainable cookstoves in Bangladesh.