In 2024, Standard Life 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).
Standard Life has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 2,111a | 2,433a | 2,684b | |
Total Scope 2 | ||||
Market-Based | 0a | 23a | 7b | |
Location-Based | 2,457a | 3,856a | 4,437b | |
Total Scope 3 | 8,900a | 9,761a | 8,370b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.0862a | 0.1144a | N/A |
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In 2024, the total operational greenhouse gas (GHG) emissions of Standard Life amounted to 4,568 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 Standard Life decreased by 27.37%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Standard Life were 2,111 metric tons of CO₂ equivalent (tCO₂e).a
Since 2022, Standard Life's Scope 1 emissions have decreased by 21.35%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Standard Life's Scope 1 emissions decreased by 13.23%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Standard Life reported Scope 2 greenhouse gas (GHG) emissions of 0 tCO₂e using the market-based method and 2,457 tCO₂e using the location-based method.a
Since 2022, Standard Life's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 44.62%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Standard Life's Scope 2 emissions (Location-Based) fell by 36.28% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Standard Life reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Standard Life reported 8,900 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 Standard Life includes a breakdown across 5 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
In 2024, Standard Life reported total Scope 3 emissions of 8,900 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 90.54% of these emissions originated from upstream activities such as purchased goods and capital goods, while 9.46% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2022, Standard Life's Scope 3 emissionshave remained relatively stable, indicating that Standard Life's emissions have plateaued with no significant change in its value chain footprint.ab
Compared to the previous year (2023), Standard Life's Scope 3 emissions remained relatively stable, indicating that Standard Life's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Standard Life reported emissions for 5 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Standard Life's Scope 3 emissions were:a
In 2024, Standard Life reported Scope 1 greenhouse gas (GHG) emissions of 2,111 tCO₂e and total revenues of USD 24,490 millions. This translates into an emissions intensity of 0.09 tCO₂e per millions USD.a
In 2024, Standard Life reported a Scope 1 emissions intensity of 0.09 tCO₂e per millions USD. Compared to the peer group median of 0.39, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Standard Life ranked 5 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Standard Life among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, Standard Life reported a total carbon footprint of 13,468 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 16.09% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Standard Life's total carbon footprint was Scope 3 emissions, accounting for 66.08% of the company's total carbon footprint, followed by Scope 2 emissions at 18.24%.a