In August 2024, the Science Based Targets initiative (SBTi) officially validated Icon’s near-term emissions reduction targets, reinforcing the group’s pledge to align with global best practice and a 1.5°C pathway.
To ensure ongoing visibility of progress, this FY2025 update is being shared ahead of Icon’s full Sustainability Report in 2026.
This disclosure highlights the tangible steps taken to reduce emissions and make meaningful progress toward a lower-carbon future, underpinned by science-based pathways and strong governance.
The following targets have been developed in line with the level of decarbonisation required to limit global temperature increase to 1.5°C above pre-industrial levels. These are publicly available on the SBTi dashboard:
Icon is on track to achieve FY30 Scope 1+2 absolute emission reduction target. In FY2025, we sourced 56% of renewable electricity across our facilities and continued to convert our fleet of internal combustion engine vehicles to electric, which achieved a 41% reduction in Scope 1 and 2 carbon emission (tCO2-e) against FY23 baseline.
Icon also reached its FY2028 SBTi Scope 3 supplier target with over 73% of our suppliers (by spend in Purchased Goods and Services category) having set science-based targets.
The next opportunity is to engage suppliers on data sharing enabling a shift from spend-based calculations to supplier-specific emission factors, to see a reduction in scope 3 emissions.
As our operations continue to grow, a proportional increase in greenhouse gas emissions is expected. However, we have established several abatement pathways in our decarbonisation roadmap to meet, and exceed our emissions reduction targets.
These include installing solar PV where feasible, engaging with key suppliers, continuing to procure renewable energy to match electricity consumption, and progressing the electrification of our fleet. We are also continuing to develop a transition pathway to guide our long-term decarbonisation ambitions.
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