At a Glance
Financial Services and Insurance
Data Analysis, Financial Evaluation and Planning, Industrial Energy Efficiency, Sustainability and Energy Management Strategy
New York, NY
Bipul identified and analyzed GHG emissions reduction opportunities for potential adoption based on feasibility, cost, and positive environmental impact.
Earlier this year, S&P Global announced its SBTs and commitment to be a net-zero organization by 2040. With the goal of exploring best practices needed to embed low-carbon practices into its operations, S&P Global brought on Bipul Mayank to identify and analyze GHG reduction opportunities for potential adoption based on feasibility, cost, and positive environmental impact; develop strategic guidance going forward; and identify key enterprise barriers and recommendations for the transition.
Bipul approached the challenge in three stages:
- Analyze goals and criteria for emissions reduction: Bipul engaged with all divisions across S&P Global to analyze the goal of 25% reduction in emissions by 2025 from a 2019 base year, including both absolute scope 1 and 2 emissions from operations as well as absolute scope 3 emissions from business travel and procurement.
- Identify the key parameters: Bipul analyzed the on-site energy consumption, global business travel, procurement supply chain, and a sustainability-linked bond offering, and evaluated which parameters the company could use to meet the emissions reduction demands.
- Provide recommendation: He used Financial Power Purchase Agreements (FPPAs), incentives for reduced business travel and data analysis of supplier emissions, to suggest the way forward.
With a combination of on-site renewables and FPPAs for offices, eco-conscious options and optimization of business travel bookings, incentives for reduced business travel, and a spend-based supplier emission tracking approach, S&P Global can offset more than 90,000 tCO2e annually, by 2025. This is well in line with the goal of 25% reduction in emissions by 2025.