Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Factbox-How companies account for remote work in their carbon footprints

Stock Markets May 05, 2022 06:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: An exhaust emits fumes as a car is driven through Richmond in London, Britain December 2, 2016. REUTERS/Peter Nicholls

By Paresh Dave

(Reuters) - Reuters surveyed 20 large companies that both report their carbon footprints and embrace remote work about whether they estimate carbon emissions from employees' home offices.

Half of the companies measure the impact of remote work, with at least seven of those taking measures in response, while the other half had not done anything. Here are more details on how companies are confronting the challenging intersection of home offices and climate change.

ACCOUNTING FOR HOME OFFICES

Atlassian (NASDAQ:TEAM) Corporation Plc, a collaboration software maker, estimated emissions of 3,365 metric tons carbon dioxide equivalent (mtCO2e) in the year ended June 30, 2021 from remote work by its over 6,000 employees that year. Combined emissions from commuting and remote work fell 32% from the year-earlier period. Its goal to operate on 100% renewable energy does not apply to remote work, but it is evaluating how to address remote-work emissions.

Fidelity Investments Inc, a Boston-based financial services company, estimated 29,505 mtCO2e in 2020 from remote work by its 49,000 employees that year. It did not count the emissions in its carbon footprint.

Google, a unit of Silicon Valley tech company Alphabet (NASDAQ:GOOGL) Inc, estimated 56,000 mtCO2e in 2020 from remote work by its 135,000 employees that year. Its goal to operate on 24/7 carbon-free energy by 2030 does not apply to remote work, but it purchases high-quality carbon credits to offset home-office emissions.

Meta Platforms Inc, owner of Facebook (NASDAQ:FB), estimated 61,000 mtCO2e in 2020 combined from employee commuting and remote work by its about 58,600 employees that year. The combined emissions were down 32% from the prior year. It completely matched remote-work electricity use with renewable energy purchases.

Microsoft Corp (NASDAQ:MSFT), the U.S. tech giant, estimated 80,000 mtCO2e in the year ended June 30, 2021 combined from employee commuting and remote work by its 181,000 employees. It accounts for remote work in its goal to cut indirect emissions by more than half between 2020 and 2030.

Netflix Inc (NASDAQ:NFLX), the video streaming service, said that it included estimates for remote-work emissions in its carbon footprint in 2020 but declined to elaborate.

Okta (NASDAQ:OKTA) Inc, a San Francisco-based software company, estimated 2,167 mtCO2e in the year ended Jan. 31, 2021 combined from employee commuting and remote work by its 2,800 employees. It completely matched remote-work electricity use with renewable energy purchases in the year ended Jan. 31, 2022.

Salesforce.com Inc (NYSE:CRM), a San Francisco business software maker with over 73,000 employees, estimated 22,000 mtCO2e in the year ended Jan. 31, 2021 from remote work. It excludes remote-work electricity from its goal of using 100% renewable energy, but did offset all emissions from remote work beginning with the year ended Jan. 31, 2022.

Shopify (NYSE:SHOP) Inc, a commerce tools developer, estimated 1,300 mtCO2e in 2020 from remote work by its over 7,000 employees at the time. It completely matched remote-work electricity use with renewable energy.

Siemens AG (OTC:SIEGY), a German industrials giant, estimated 22,000 mtCO2e in the year ended Sept. 30, 2021 from remote work by its 303,000 employees. It counts remote work in its goal to reduce scope 3, or indirect, emissions by 15% by 2030 compared with 2019.

PLANNING TO

Twitter Inc (NYSE:TWTR), a San Francisco social media company, has not published any findings yet but said that it has developed "a program that measures carbon emissions throughout the Twitter supply chain, including emissions from workers’ home offices and Twitter’s leased office spaces."

CONSIDERING IT

Dropbox (NASDAQ:DBX) Inc, a San Francisco online storage provider, said it is committed to fighting global warming and exploring different reporting options, including to account for remote work.

Fujitsu, a Japanese tech conglomerate, said it is considering factoring emissions from remote work in the future.

Marsh & McLennan Companies Inc (NYSE:MMC), a New York-based professional services giant, said it is researching best options for measuring emissions from remote work as standards get refined.

Nationwide Mutual Insurance Co, a Columbus, Ohio financial services seller, said its home-office "reporting method is not ready for primetime" and that it would adopt "new best practices" on emissions accounting as it gains more experience with hybrid work.

Recreational Equipment Inc, a U.S. outdoor gear retailer also known as REI, said it continuously improves its emissions reporting and awaits uniform industry standards to account for remote work.

DECLINED TO SAY

U.S.-based online retailer Amazon.com Inc (NASDAQ:AMZN) along with London-based consulting titan PricewaterhouseCoopers and San Francisco bank Wells Fargo (NYSE:WFC) & Co do not estimate remote work emissions and all declined to comment on whether they would start doing so.

U.S. tech company Apple Inc (NASDAQ:AAPL) said it has not estimated remote work emissions because "we anticipated these emissions are small relative to our carbon footprint and we are still evolving our methodology."

Factbox-How companies account for remote work in their carbon footprints
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email