Achieving net zero by 2030

We’re committed to reaching net zero emissions by the end of the decade.

Thrive pledges to reach net zero emissions by 2030 via our commitment to the SME Climate Hub, a non-profit global initiative that empowers small to medium sized companies to take climate action and build resilient businesses for the future.

The Hub is an initiative of the We Mean Business Coalition, the Exponential Roadmap Initiative, the United Nations Race to Zero campaign and the Net Zero team at Oxford University.

As outlined in the SME Climate Hub guidance, businesses providing climate solutions as part of their core business model (like us) are permitted to half their emissions on an intensity basis rather than an absolute basis. That means we’re also committing to align with a +1.5°C trajectory by halving emissions intensity by 2030.

Our journey to net zero

Thrive funds, constructs and operates clean energy projects that deliver significant carbon emissions reductions.

In fact, our wind, solar and hydro sites have avoided the emission of over 942,000 tonnes of carbon dioxide since our inception in 1994.

We were also one of the first companies to fund ‘direct wire’ energy solutions for businesses – installing solar or wind projects on site, enabling them to benefit from cleaner, cheaper power, as well as reducing their own carbon footprint.

Other key actions we’ve taken:

  • Identified the scope 3 emissions relevant to Thrive and provided comprehensive emissions estimates.
  • We are based in a certified BREEAM Green Building, one of the greenest in Bristol, which has solar panels located on the roof.
  • Use renewable electricity tariffs to supply all of our operational renewable energy projects.
  • Only send printed annual reports to investors who specifically request them, reducing printing by 96% and saving over a tonne of paper.
  • Support our staff to reduce the impact of their travel, with a ‘bike to work’ scheme and participation in Climate Perks, an initiative that incentivises low carbon holiday travel.

How are emissions reported?

The Greenhouse Gas Protocol is a global, standardised framework to measure and manage greenhouse gas (GHG) emissions.

It splits emissions into three categories:

Scope 1 – Direct emissions from sources that a company owns or controls directly e.g. the gas used for our heating.

Scope 2 – Indirect emissions coming from the energy it purchases and uses e.g. the electricity powering our office.

Scope 3 – Indirect emissions resulting from sources that are not controlled or owned by the company. For example, the resulting emissions from our supply chain or employee commuting and business travel.

2022 progress
  • Maintained our scope 1 and 2 emissions at zero (down from a baseline of 2.9 tCO2e in 2019).
  • Identified which scope 3 emissions are relevant to Thrive and reported comprehensive emissions estimates across these 7 categories, including all areas relating to the construction and operation of our sustainable energy sites.
  • Reduced the carbon intensity of our business travel by 29% compared to pre-covid levels.
  • Calculated our avoided emissions (sometimes referred to as scope 4) to illustrate the wider carbon impact of the business.


2022 was a very successful year in terms of project development and is reflected in our reported emissions, which include the full construction footprint of three new clean energy projects. However, these new projects will deliver emission reductions well into the future – for example, a wind project will operate for 25-30 years with very low emissions during this time.

For a full breakdown on our scope 1, 2 and 3 emissions, please read our 2022 report here.

2023-2024 commitments

  • Continue to fund and build renewable energy and battery storage projects in line with our mission.
  • Continue to work with businesses to provide off-balance sheet ‘direct wire’ renewable energy solutions, enabling them to install renewables on-site and benefit from the electricity.
  • Calculate all emissions scopes for 2023, using the same consistent methodology.
  • Report our emissions annually and discuss the progress towards our targets.
  • Research the options available for legitimately counterbalancing our reported emissions.
  • Assess options for carbon-saving materials or measures that could be used to inform future project construction.
  • Review our plan as required.

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