GlobalData offers a comprehensive analysis of IRESS, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on IRESS‘s ESG performance. GlobalData’s company profile on IRESS offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
IRESS, a leading software provider for financial services, has committed to make significant progress in addressing climate change and intend to keep this momentum during the decade of action. IRESS' latest filings mentioned the keywords 'Emissions/Emission' and 'Climate Change' most number of times.
By 2030, the company is expected to reduce its scope 1 and 2 emissions by 46.2% and scope 3 emissions by a minimum of 18.5% from a 2019 baseline. IRESS has already taken steps to reduce its emissions, including transitioning to renewable electricity and leasing energy-efficient office spaces. The company's cloud service provider, Amazon Web Services, is committed to becoming "water positive" by 2030 and using 100% renewable energy by 2025.
IRESS has disclosed its greenhouse gas emissions for its global operations, with scope 1 and 2 emissions decreasing by 37% and 45%, respectively, from 2019 to 2022. As per ESG report, in 2022 company reported 1,105 and 19,012 tonnes of CO2e (tCO2e) for scope 1+2 and scope 3 respectively. Since 2019, overall scope 3 emissions have decreased 4%, this is largely attributed to changes in business operations due to the COVID‑19 pandemic. The company aims to improve its measurement of emissions and work with suppliers to reduce them over time.
IRESS plans to develop a detailed emission reduction strategy in 2023, establish a climate steering group, and integrate climate risk mitigation measures and emission reduction strategies into relevant company strategies. The company has also adopted the Task Force on Climate-related Financial Disclosures framework to improve the transparency of its reporting.
In conclusion, IRESS recognizes the risks and opportunities posed by climate change and aims to improve its reputation on climate action, attract and engage with clients and suppliers on reducing emissions. Regular activity reports are provided by suppliers detailing energy consumption, associated emissions, and renewable energy composition.