Version 1 has announced it is on target to become net zero carbon in its operations by 2025, with its newly released ESG Annual Report for 2023 confirming it has further reduced its carbon emissions significantly.
Version 1 also revealed it has received an A- rating from the Carbon Disclosure Project (CDP).
Progress has been made against all ESG metrics and the organisation has had its near-term environmental targets validated by the Science-Based Targets Initiative (SBTi). The company has also joined the United Nations Global Compact, aligning its objectives with the United Nations Sustainable Development Goals (UNSDGs) and focusing on driving accreditations and increasing scores in partnership with associations such as the Carbon Disclosure Project, Ecovadis and Corporate Balance.
It has also strengthened its corporate social responsibility impact and further embedded diversity, inclusion and belonging across the organisation.
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On environmental sustainability, Version 1 achieved (against a baseline of 2019) a reduction of 87% in its Scope One emissions (direct greenhouse gas emissions) and a 32% reduction in Scope Two emissions (indirect greenhouse gas emissions) by transitioning to renewable energy sources, reduction in energy consumption and responsible resource management. Steps taken to tackle Scope 3 emissions stretch across the company and include a 70% reduction in water usage, an 83% fall in total waste, a 60% per capita reduction in commuting emissions, as well as the planting of 15,350 trees.
Version 1 has also made significant progress through a strong focus on responsible procurement, rating suppliers through the Sustain IQ ESG system against the cornerstones of people, profit and planet. Through that, 60% of all suppliers have a carbon net zero target set by 2050 or earlier and 40% are small-to-medium sized and based locally.
Diversity, Inclusion and Belonging has been an intrinsic part of the business since it was founded and continues to be a key strategic pillar. Gender Pay Gap has decreased across all UK locations and the company has reported on the Irish Gender Pay Gap for the first time. It also signed the Wellbeing of Women Menopause Awareness Charter and has grown its Women in Tech network significantly.
With regards to Education and Employability, Version 1 has continued to engage with educational institutions, forming long-term partnerships to help inspire young people and create interest in the digital transformation industry. Throughout 2023, over 6000 students have been reached through events, a total of 46 direct work experience or placements and other educational initiatives.
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Version 1’s community work has also always been a key part of its culture and continues to grow in influence. In 2023 it worked with charity partners to focus on four key UNSDGs: No Poverty, Zero Hunger, Reduced Inequalities and Sustainable Cities and Communities. Through its charity partner in India, SNEH, it provided a mobile medical van which accesses remote villages to provide basic but critical medical services to everyone. In the UK, it helped the Samaritans with donations and fundraising to keep call centres open and similarly also helped to provide homes, jobs, food and support for others.
Lorna McAdoo, Head of ESG at Version 1, commented that the report highlights considerable progress for Version 1 across all ESG pillars. She said:
"Each day we challenge ourselves to be a responsible organisation within our industry – an organisation respected for its ethics, values, and social and climate responsibilities.
"But more importantly we want to be innovators in ESG across not just our sector, but all the sectors in which we deliver services,” she said. “We have made steady progress towards this in 2023, building on our 2022 five-year strategy with focus on embedding the responsibility for delivering against our goals across the organisation; making sure everyone in the organisation understands how they can play a part and equipping our delivery teams to progress ESG targets for ourselves and our customers."
