Vickers Oils - Easing the path to net zero
Customer requirements
Vickers Oils have high ambitions to reduce scope 1 and 2 emissions to zero before their 200-year anniversary in 2028 and wanted to make an informed decision on whether to commit to a science-based target (SBT).
Ricardo solution
Vickers Oils commissioned Ricardo to develop their baseline scope 3 inventory, incorporating product carbon footprints to improve accuracy. We then worked alongside Vickers Oils to plan a net zero strategy for scope 1, 2, and 3 emissions.
As Vickers Oils use bio-based oils as their key raw material, they also needed to understand their Forestry, Land-Use, and Agriculture (FLAG) emissions. If these are above 20% of the carbon footprint the company would be required to set a FLAG science-based target in addition to a corporate net-zero target.
Ricardo’s specialist net zero and agriculture teams worked with Vickers Oils to obtain the necessary information from suppliers and used the findings to quantify their FLAG emissions. Ricardo also modelled the long-term carbon savings potentials from numerous measures for scope 1, 2, and 3 emissions to understand the feasibility of achieving various types of SBT, including scope 3, corporate and SME targets.
Customer benefit
Vickers Oils are now using the findings to plan implementation of on-site measures, engage their value chain partners, and make a final decision on a science-based target before the end of 2024.