Firm-wide initiatives
Carbon report
In 2025, we completed the first Firm-wide inventory of greenhouse gas (GHG) for our global operations with the support of independent external consultants, in accordance with the GHG Protocol and ISO 14064-1 global standards.
This initiative builds on the work initiated by our EMEA operations (AXON, Cherry, Hanover, and Madano), which have been tracking their carbon footprint since 2022.
Our inventory includes all AVENIR GLOBAL offices and business units worldwide, and emissions were calculated using standard emission factors consistent with the GHG Protocol.
As this was our first global GHG inventory, improving data completeness and accuracy will be a priority in the coming years. Because all of our offices are leased, access to Scope 1 and Scope 2 data depends on collaboration with landlords and building managers. Several Scope 3 categories—such as purchased goods and services and business travel—were estimated using spend-based methodologies. In 2026, we will continue strengthening our data collection processes to support more granular reporting across our operations.
Reduction targets
Using 2024 as our baseline, we have set near-term targets to achieve a 42% reduction of Scope 1 and Scope 2 emissions and a 25% reduction of Scope 3 emissions by 2034. These targets reflect our intention to make measurable, science-based progress in the coming decade.
We look to achieve these reduction targets by implementing various initiatives, including:
- Increasing renewable electricity sourcing wherever possible
- Prioritizing green-certified buildings (LEED, BREEAM or equivalent)
- Implementing business travel policies that encourage lower-carbon choices
- Promoting public or active transportation for employee commuting
- Applying sustainable procurement guidelines to favour environmentally responsible suppliers
In November 2025, we committed to Science-Based Targets initiative (SBTi) to submit our near-term reduction targets for validation by the end of 2027.
2024 greenhouse gas emissions (GHG)
Scope 1: Stationary combustion
Scope 2: Purchased heat, purchased electricity
Scope 3: Employee commuting, business travel, purchased goods and services, waste generated in operations
Green-certified buildings
As a Firm composed entirely of leased offices, the environmental performance of our workplaces is closely linked to the standards upheld by our building owners and managers. Whenever possible, we prioritize leasing office spaces with recognized sustainability certifications—such as LEED, BREEAM or equivalent.
In 2025, 75% of our workforce was located in green-certified buildings, including our headquarters in Montreal. Our largest office, located in London and opened in 2021, was designed with sustainability in mind and features a BREEAM “Very Good” rating, LED lighting, energy-saving technologies, and electricity sourced from 100% renewable schemes.
As we renew our corporate leases in the coming years, we will continue to favour spaces with strong environmental credentials and work closely with landlords to encourage the adoption of additional sustainability measures across our offices.
Waste and circularity
As an office-based organization, our material footprint is relatively limited; however, waste reduction and responsible disposal remain important aspects of our environmental performance. Our focus is on improving waste management practices in our offices and ensuring responsible handling of retired electronic equipment.
Office waste management
We are committed to reducing the amount of waste sent to landfill by implementing waste management programs—such as waste sorting, recycling, organics collection, and battery recycling—across our office locations. Because all our offices are leased, progress often depends on collaboration with local building management teams. We work with them to optimize collection practices and track waste data wherever possible.
Locally, brands are encouraged to introduce initiatives that promote waste reduction and sustainable practices, including reducing single-use plastics, upcycling, or choosing more eco-friendly materials.
As our practices continue to mature, we will explore opportunities to develop more consistent KPIs across our operations.
Electronic waste
Recognizing that electronic waste is one of the fastest-growing solid waste streams globally, we have implemented measures to reduce the environmental impact associated with the use of electronic devices throughout their lifecycle.
In 2025, 100% of retired electronic devices were managed responsibly, either through specialized recycling partners or through internal reselling programs — consistent with our performance in previous years.
We also offset the carbon associated with the purchase of all new laptops through Lenovo’s CO2 Offset Services.
1,053 lbs
Total weight of electronic waste diverted from landfill
Total carbon emissions offset from new laptop purchases
Around the network
AVENIR GLOBAL and NATIONAL Montreal
These findings led to several initiatives aimed at improving organic waste collection, including replacing standard garbage bins with composting bins and introducing clearer signage. In 2026, we will work with our building management team to conduct a follow-up audit to track progress and assess the effectiveness of these measures.
CHERRY
HANOVER
These initiatives focus on reducing the environmental impact of everyday operational choices and supporting more responsible resource use across Hanover’s offices.