Bridgewater is committed to minimizing the environmental impact of our operations.
In 2021, we developed plans to reduce our carbon footprint by more than 90% across Scope 1 & 2 emissions by 2025, primarily by reducing our energy consumption, shifting to renewable energy (via RECs), and using offsets for any residual emissions. We are tracking well against this goal.
Since 2022, we have purchased 100% of electricity from renewable sources across our portfolio. By the end of 2023, our cumulative, actual emissions were reduced by 42% against our 2019 baseline, predominantly driven by energy savings from real estate consolidation. Combining our energy procurement strategy (RECs) and actual reductions, our Scope 1 & 2 emissions were reduced by 83% in 2023 compared to 2019, and we purchased high quality offsets for the remaining 17%.
In 2023, we encountered a slight setback in our Scope 1 emissions due to an equipment issue that resulted in refrigerant leaks, which has since been resolved. We anticipate being on track for Scope 1 reduction in the future. Separately, we have diverted 43% of our building waste away from landfills. Moving forward, we will continue to identify reduction strategies across our operational sustainability.