Commercial, GHG Emissions, Finance  -  March 7, 2024

Jefferies Financial Discloses Emissions, Buys RECs

Jefferies Financial Group, Inc. disclosed its Scope 1, 2, and 3 emissions and measured seven categories of Scope 3 emissions. 

The investment banking and capital markets firm also purchased renewable energy credits (RECs) to address emissions associated with grid electricity and carbon offsets to mitigate its remaining Scope 1, 2, and 3 emissions.

To address the impact of the company’s emissions, for fiscal year 2022 Jefferies purchased Green-e Renewable Energy Credits (RECs) or nationally equivalent products in the countries in which Jefferies does business to address emissions associated with grid electricity.  For its U.S. operations, the bank purchased RECs generated in New York City. 

Jefferies considered several offset projects and sellers to ensure the purchase of high-quality, verified offsets in the amount of its remaining Scopes 1, 2, and 3 emissions not associated with electricity. The offsets purchased were from renewable solar installations in India and certified by Verified Carbon Standard (VCS). 

In 2024 the company may explore further opportunities to reduce its environmental impact through operational efficiency measures in the offices and data centers it occupies, reduce its impact from business travel, expand internal training, and pursue additional engagement with its supply chain.

Details were published in its 2024 Sustainability Report.

“This report shares the many ways we continued to make progress this past year in support of the principles of ‘long-termism’ we have always prioritized for the benefit of our employees, clients, investors, bondholders and other stakeholders,” Rich Handler, CEO, and Brian Friedman, President, said in a statement. “Although there is always more to do, we are inspired by our team’s relentless commitment to supporting sustainability. We hope you take some time to read about how that commitment translates into action.”