We are actively supporting four organizations that are developing and providing carbon removal solutions. Our focus is not just on financial support, but also on fostering employee education and engagement. Through a series of webinars, site visits, pro bono consulting engagements and ongoing educational initiatives, our program aims to not only support the scaling of these important solutions, but to transfer the knowledge to our clients and communities.
In 2020, Oliver Wyman achieved certification as a CarbonNeutral® company and initiated an annual offset of emissions that could not be reduced in the prior year. This marked a critical first step for our organization, enabling us to analyze our emissions and set a plan to reduce them. Approximately 75% of our historical emissions (pre-pandemic) were attributed to air travel. As such, we set an accelerated target to reduce air travel emissions by 40% per FTE by 2025, using 2019 as the baseline. We also implemented an internal price on carbon, tied to partner compensation, which took effect starting in 2023.
As a business of Marsh McLennan, our actions support the goals announced in March 2022 to achieve net-zero carbon emissions across our global business operations by 2050, with an interim target of a 50% emissions reduction by 2030.
We signed a commitment letter and have submitted targets for verification to the Science Based Targets initiative (SBTi). We are currently working on a climate transition plan to achieve our targets. For more information about our progress towards net zero, our carbon offset portfolio, and year-over-year emissions, refer to Marsh McLennan’s ESG report. At Oliver Wyman, we are deeply committed to achieving our net-zero goals. We have developed a climate strategy focused on three areas: actioning net zero, contributing to the environment and society, and engaging colleagues.
Responding to the climate challenge is a transformational journey that is crucial to companies everywhere
Our Climate Academy is a learning and training curriculum designed to give all consulting staff the tools they need to execute high-impact strategies for our clients through the climate transition.
GROW is a global community of colleagues who seek to make tangible impact by supporting Oliver Wyman’s commitment to sustainability, particularly at the local office level. Using our Actioning Net Zero online hub, featuring role-specific best practices and training, the GROW teams take the lead in engaging colleagues on our commitments and spreading the message that every job is a climate job.
Launched in December 2021, our GROWTrees reforestation program works with nonprofits such as One Tree Planted to give our colleagues the opportunity to have a voice in supporting reforestation projects. The focus is not just on planting, but also nurturing trees over time. Combined with in-person urban tree planting efforts, the program has supported the planting and growing of more than 100,000 trees and counting.
Additional tools are available to Oliver Wyman employees on our Actioning Net Zero hub, featuring role-specific best practices, tools and training to help the organization adapt to a more sustainable way of working. Colleagues can progress their knowledge of climate and sustainability topics on Degreed, utilize a travel carbon footprint estimator to minimize the impact of upcoming business travel, and more.
The Mangrove Breakthrough
We proudly support an international alliance of corporates and non-profits dedicated to restoring 15M hectares of mangroves by 2030. Their roadmap to secure funding for mangrove restoration projects aligns with our commitment to nature-based carbon removal. As an early investor, we are supporting the establishment of a secretariat to secure the necessary funding and help them achieve their goals.
Seaweed Generation
We proudly support a UK-based blue carbon start-up using automated robots to remove toxic Sargassum, improve health, and reduce carbon. They were recognized as one of TIME's best inventions of 2023. Our support includes the development of a citizen science mobile app and the deployment of four new buoys with environmental monitoring capabilities, which are critical next steps in achieving social licensing and scaling their efforts.
Charm Industrial
We proudly support Charm Industrial, a climate technology company utilizing bio-oil for permanent carbon removal. They are a verified carbon removal leader, recognized by Isometric and Patch. Their bio-oil has the potential to replace fossil fuels in iron making, a process that is currently 6% of global emissions. Our support includes the purchase of premium 2021 carbon removal credits, which are in limited supply, furthering their mission of carbon removal.
Patch
We proudly support Patch, a platform that helps buyers select a diverse portfolio of nature and technology-based credits while providing critical funding for project developers to scale their operations. Patch has established rigorous standards that evolve scientific and regulatory standards for all solutions on their platform. Our support includes the purchase of carbon credits from Carbon Cure, a Canadian company that injects captured CO2 into concrete during mixing, contributing to carbon removal efforts.
The Mangrove Breakthrough
We proudly support an international alliance of corporates and non-profits dedicated to restoring 15M hectares of mangroves by 2030. Their roadmap to secure funding for mangrove restoration projects aligns with our commitment to nature-based carbon removal. As an early investor, we are supporting the establishment of a secretariat to secure the necessary funding and help them achieve their goals.
Seaweed Generation
We proudly support a UK-based blue carbon start-up using automated robots to remove toxic Sargassum, improve health, and reduce carbon. They were recognized as one of TIME's best inventions of 2023. Our support includes the development of a citizen science mobile app and the deployment of four new buoys with environmental monitoring capabilities, which are critical next steps in achieving social licensing and scaling their efforts.
Charm Industrial
We proudly support Charm Industrial, a climate technology company utilizing bio-oil for permanent carbon removal. They are a verified carbon removal leader, recognized by Isometric and Patch. Their bio-oil has the potential to replace fossil fuels in iron making, a process that is currently 6% of global emissions. Our support includes the purchase of premium 2021 carbon removal credits, which are in limited supply, furthering their mission of carbon removal.
Patch
We proudly support Patch, a platform that helps buyers select a diverse portfolio of nature and technology-based credits while providing critical funding for project developers to scale their operations. Patch has established rigorous standards that evolve scientific and regulatory standards for all solutions on their platform. Our support includes the purchase of carbon credits from Carbon Cure, a Canadian company that injects captured CO2 into concrete during mixing, contributing to carbon removal efforts.
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