We have recently completed our scope 3 inventory for FY 21-22. Please see the graph below for a breakdown of our key areas of focus. Completing this inventory has enabled us to prioritise carbon reduction initiatives not only relating to our business operations but in the wider context of our entire value chain.
Scope 3 Breakdown Y/E 2022
To offset or not?
Most natural assets, and their resultant social benefits, are undervalued, overexploited and could be best protected through Vp empowering local organisations with direct funding.
Critics have raised valid concerns over the potential overuse of offsets, which could delay the much-needed transition away from fossil fuels. However, we acknowledge that a well-constructed offset portfolio that includes projects with significant biodiversity net gains can be valuable.
Renewable Energy
The table below illustrates our worldwide energy consumption by source. 87% of our electricity is from renewable sources, as is 8% of our energy consumed overall. We have now transitioned the remaining UK properties onto our fully renewable electricity contract, backed by certificates of renewable energy guarantees of origin (REGOs).
Vp have invested c. £150k to power four sites with solar energy with an additional four sites and c. £200k of investment planned for the coming year. We continue to explore renewable heating options to reduce our consumption of natural gas.
Worldwide Energy Consumption by Source Y/E 2023
| Scope 1 (kWh) | Diesel | 72m |
| Natural Gas | 3m | |
| Scope 2 (kWh) | Renewable Electricity | 7m |
| Non-Renewable Electricity | 1m |