Our road to net zero emissions

25 january 2024

We're committed to net zero 2030

Every day, we’re working with organizations ranging from scale-ups to large enterprises, guiding them on the path to a more sustainable future. Our team supports companies with their carbon footprinting, reduction strategies, and more. Because we believe in leading by example, The Terrace is committed to achieving net-zero carbon emissions by 2030.

Our greenhouse gas footprinting

In 2023, we assessed our environmental impact in terms of greenhouse gas emissions. We calculated and analyzed our Scope 1 and 2 greenhouse gas emissions, covering the gas and electricity consumption of our Amsterdam office. In addition, although formally not within Scope 1 and 2, we challenged ourselves to calculate the working-from-home emissions of our employees, as we figured this would have quite a significant impact on our total greenhouse gas emissions. 

 

Some of the challenges

Our greenhouse gas emissions assessment and calculations have revealed some challenges, particularly in our reliance on natural gas within the office building, contributing significantly to our Scope 1 emissions. Our current office emission figures are based on our share of emissions related to the building our office is located in. That means we had to calculate the ratio of our office’s square footage to the total square footage of the building we reside in, and then use that same proportion to determine our office’s share of the overall emissions of the building. Therefore, the data may not be entirely accurate, as it’s influenced by the energy and electricity usage of other tenants in the same building. Despite our efforts to optimize energy and electricity consumption within our office, the overall emission figures are affected by the practices of other building occupants. Furthermore, gaining insights into the emissions associated with our employees’ home offices has proven a bit of a challenge due to limited knowledge on each employee’s energy provider. In 2024, we aim to gain more transparency on these emissions.

Disclaimer: We have calculated our 2022 and, partly, our 2023 greenhouse gas footprint. As soon as we’ve received all data for 2023, we’ll share more detailed numbers on that calculation.  

Our emission reduction strategy

After calculating our current carbon footprint, we set out three potential growth scenarios for The Terrace. These growth scenarios project our greenhouse gas footprint from the years 2024 to 2030 and will serve as a baseline for progress monitoring. Having established these growth scenarios and identified the most realistic one, we formulated a reduction strategy on both our Scope 1 and 2 emissions from our Amsterdam office and our home offices. Below, we share some considerations guiding our efforts toward achieving the set reduction targets until the year 2030.

 

Amsterdam office emissions:

    • Motivating all tenants to adopt energy-efficient practices: Recognizing that addressing emissions on a building-wide scale requires collaboration with other tenants, we are exploring the options for a building campaign to encourage collective energy efficiency efforts.
    • Exploring sustainable building: Our commitment to reducing reliance on natural gas includes exploring alternative office buildings that don’t rely on natural gas but other alternatives, such as heat pumps.

 

Working from home emissions:

    • Encouraging a switch to renewable energy providers: All of our employees who regularly work from home and don’t have a renewable energy supplier yet, are encouraged, and potentially incentivized, to switch to a more sustainable energy supplier in the coming year. Acknowledging that this change will not happen overnight, we believe our ultimate goal of zero Scope 2 greenhouse gas emissions is reachable well before 2030.

 

Offsetting? Not ideal, but sometimes necessary.

Even though we’re prioritizing cutting down on all our cgreenhouse gas emissions, we’re expecting to offset residual greenhouse gas emissions in our Scope 1 through verified offset projects in 2030. But let’s not forget – relying on offsetting should only be a backup plan. Our priority will always be on finding ways to reduce emissions.

Want to know how we can help with your company’s greenhouse gas calculation and road to net zero? Book a 15 min quick consultation.