At PKF Octagon, sustainability is an integral part of our ambitious growth strategy, extending beyond a mere service offering to become a foundational principle. By leading through example, we aim to demonstrate how businesses can drive expansion while embedding sustainable practices, bridging the gap between environmental science and social impact, and advocating for South African industry within the global sustainability agenda. We recognize that growth and sustainability must go hand in hand to create lasting value for our stakeholders.

Our 2024 Carbon Report marks a significant milestone in our journey towards reducing our environmental impact. It affirms our commitment to transparent and accountable carbon reporting, sets science-based targets, and outlines a clear roadmap to achieving Net Zero. This report establishes a baseline for our carbon footprint, providing a detailed account of our sustainability commitments and the practical steps we are taking to align our business growth with a responsible, low-carbon future.

Why This Matters

PKF Octagon has ambitious growth targets, and we understand that this growth must be sustainable. As we expand our business, we recognize the importance of managing our environmental impact to ensure that we continue to operate responsibly. Climate change is one of the most pressing global challenges of our time, with businesses playing a crucial role in reducing carbon emissions and mitigating environmental impact. By taking proactive steps toward Net Zero, PKF Octagon is not only safeguarding its long-term sustainability but also contributing to a larger movement toward a low-carbon economy.

Climate change is one of the most pressing global challenges of our time, with businesses playing a crucial role in reducing carbon emissions and mitigating environmental impact. By taking proactive steps toward Net Zero, PKF Octagon is not only safeguarding its long-term sustainability but also contributing to a larger movement toward a low-carbon economy.

Understanding Our Carbon Footprint

Using globally recognized carbon accounting methodologies, PKF Octagon has measured its emissions across Scope 1 (direct emissions from company-owned sources), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (indirect emissions from upstream and downstream activities in the value chain). For the financial year ending February 2024, our total carbon footprint was 826.13 tCO₂e, with the largest contributors being:

• Electricity (51.09%) – Primarily from City Power, reflecting South Africa’s coal-intensive energy mix.
• Employee commuting (22.73%) – Due to reliance on personal vehicles and business travel, highlighting the need for alternative low-carbon transportation options.
• Food and drink (15.52%) – A category where targeted interventions, such as sustainable procurement policies, can lead to measurable emissions reductions.
  
  

Figure 1: Scope emission FY2024

When benchmarked against similar professional services firms, our carbon intensity of 3.39 tCO₂e per employee aligns with industry norms, demonstrating our ability to manage emissions while maintaining operational efficiency.

Our Net Zero Commitment

PKF Octagon is aligning its climate strategy with the Science-Based Targets initiative (SBTi) to ensure our commitments are credible and impactful. Our targets include:

• Near-term target (2035): A 63% reduction in total emissions across Scope 1, 2, and 3.
• Long-term Net Zero target (2050): A 90% reduction in emissions across all categories, with residual emissions neutralized through carbon removal strategies such as reforestation and carbon capture technologies.

Table 1: SBTi Targets FY2024

Scope	Base Year (tCO2e)	Target Year 2035 (tCO2e)	% Reduction
Scope 1	3.42	1.27	63%
Scope 2	457.19	169.16	63%
Scope 3	365.59	135.20	63%
Total	826.20	305.63	63%