Smiths assesses the GHG emissions associated with all its global operations for all four of its operational divisions. We have developed a GHG Inventory Management Plan (IMP) that outlines our methodology to ensure systematic and appropriate GHG inventory data collection, manipulation and management to produce a relevant, credible and transparent GHG inventory that will support our near-term and long-term goals. The IMP includes methods to estimate direct emissions from Smiths’ operations (Scope 1), indirect emissions from purchased energy (Scope 2), and value chain emissions (Scope 3).
The methods prescribed in the IMP conform to the World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD) GHG Protocol and the United States Environmental Protection Agency (USEPA) Center for Corporate Climate Leadership Greenhouse Gas Inventory Guidance.
Assurance
Smiths is committed to a complete, accurate, and transparent inventory process and results. Smiths corrects identified data gaps and errors in a timely manner and makes required procedural changes as necessary to avoid repetition of errors. To this end, Smiths annually monitors whether updates to the referenced sources of emission factors have been issued and utilises any updated emission factors in all relevant inventory calculations.
Updated emission factors may trigger a base year adjustment. The IMP is reviewed and updated annually during and after completion of the yearly emissions inventory to reflect any structural or methodological changes. In addition, Smiths’ divisions and Group review monthly reporting from Smiths sites looking for anomalies and errors.
We retain a third-party Assurance provider to review and assure our Scope 1, 2, and 3 GHG emissions inventories.
KPMG LLP were engaged by Smiths Group to provide limited assurance over the information described below for FY2022 data and for FY2023 data in alignment with ISAE (UK) 3000 and ISAE 3410.
| FY2022 and FY2023 Energy use and GHG emissions | FY2022 | FY2023 | |
| Global energy use – absolute values ∆ | MWh | 223,709 | 218,094 |
| Energy efficiency ∆ | MWh/£m adjusted revenue | 86.11 | 76.3 |
| Energy efficiency ∆ | MWh/£m non-adjusted revenue | 82.86 | - |
| Global emissions – absolute values | |||
| Scope 1 (direct emissions) ∆ | t CO2e | 19,591 | 19,694 |
| Scope 2 (market based emissions) ∆ | t CO2e | 32,193 | 25,955 |
| Scope 1 & 2 reductions FY2022 to FY2023 | % | N/A | (11.8)% |
| Total Scope 1&2 ∆ | t CO2e | 51,784 | 45,649 |
| Scope 3 (value chain emissions) ∆ | t CO2e | 1,450,000 | 1,380,000 |
1 Limited assurance provided under ISAE (UK) 3000 and ISAE 3410 by KPMG. See FY2022 IMP and FY2022 Assurance Opinion.
2 Limited assurance provided under ISAE (UK) 3000 and ISAE 3410 by KPMG. See FY2023 IMP and FY2023 Opinion.
3 See FY2023 Assurance Opinion.
∆ Limited assurance provided under ISAE (UK) 3000 and ISAE 3410 by KPMG
Smiths GHG Inventory Management Plan Summary FY2023
FY2023 Assurance Opinion
Smiths GHG Inventory Management Plan Summary FY2022
FY2022 Assurance Opinion