Ricardo Ltd
Ricardo's GHG Emissions Data Preview
In 2024, Ricardo completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Ricardo has also provided a category-level breakdown for 10 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | 0000000 | Copy/Paste is a PRO feature.  a | Copy/Paste is a PRO feature.  a | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy/Paste is a PRO feature.  a | 0000000 | Copy/Paste is a PRO feature.  a | 0000000 |
Location-Based | Copy/Paste is a PRO feature.  a | 0000000 | Copy/Paste is a PRO feature.  a | 0000000 |
Total Scope 3 | Copy/Paste is a PRO feature.  a | Copy/Paste is a PRO feature.  a | 0000000 | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0000000 | Copy/Paste is a PRO feature.  a | Copy/Paste is a PRO feature.  a | 0000000 |
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aVerified Sources Behind Ricardo’s Greenhouse Gas (GHG) Emissions Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Ricardo’s data sources below and access millions more through our Disclosure Search.
Insights into Ricardo's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions of Ricardo amounted to 5,502 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Ricardo decreased by 1.91%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
Ricardo's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Ricardo's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Ricardo were 2,725 metric tons of CO₂ equivalent (tCO₂e).a
Has Ricardo reduced its Scope 1 emissions over time?
Since 2020, Ricardo's Scope 1 emissions have decreased by 37.26%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Ricardo's Scope 1 emissions decreased by 4.22%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
What are Ricardo's Scope 2 emissions?
In 2024, Ricardo reported Scope 2 greenhouse gas (GHG) emissions of 914 tCO₂e using the market-based method and 2,777 tCO₂e using the location-based method.a
Has Ricardo reduced its Scope 2 emissions over time?
Since 2020, Ricardo's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 44.25%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Ricardo's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Ricardo's emissions have plateaued with no significant change in its energy consumption footprint.a
What methodology does Ricardo use for Scope 2 reporting?
In 2024, Ricardo reported its Scope 2 emissions using the market-based method and using the location-based method.a
Ricardo's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Ricardo's Value Chain Emissions
In 2024, Ricardo reported 166,241 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Ricardo includes a breakdown across 10 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
Ricardo's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Ricardo's Scope 3 emissions?
In 2024, Ricardo reported total Scope 3 emissions of 166,241 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 13.94% of these emissions originated from upstream activities such as purchased goods and capital goods, while 86.06% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Ricardo's Scope 3 emissions decreased by 11.57%, highlighting the company's efforts to lower indirect emissions from its value chain.a
What categories of Scope 3 emissions does Ricardo disclose?
In 2024, Ricardo reported emissions for 10 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
What are the main sources of Ricardo's Scope 3 emissions?
In 2024, the largest contributors to Ricardo's Scope 3 emissions were:a
- Use of Sold Products (Cat. 11): 35,172 tCO₂e (84.67%)
- Business Travel (Cat. 6): 2,448 tCO₂e (5.89%)
- Employee Commuting (Cat. 7): 2,018 tCO₂e (4.86%)
Ricardo's Scope 3 Emissions by Categories
Insights into Ricardo’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Ricardo reported Scope 1 greenhouse gas (GHG) emissions of 2,725 tCO₂e and total revenues of USD 600 millions. This translates into an emissions intensity of 4.54 tCO₂e per millions USD.a
Ricardo's Scope 1 Emissions Intensity Compared to Peers
How does Ricardo's GHG emissions intensity compare to its peers?
In 2024, Ricardo reported a Scope 1 emissions intensity of 4.54 tCO₂e per millions USD. Compared to the peer group median of 9.31, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
Where does Ricardo rank on GHG emissions intensity within its industry?
In 2024, Ricardo ranked 10 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Ricardo is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
Insights into Ricardo's Total Carbon Footprint
In 2024, Ricardo reported a total carbon footprint of 171,743 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 11.29% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Ricardo's total carbon footprint was Scope 3 emissions, accounting for 96.8% of the company's total carbon footprint, followed by Scope 2 emissions at 1.62%.a