GHG Reduction Targets: ESMA commits to reducing its gross greenhouse gas (GHG) emissions by 15.4% by 2027 and 31.4% by 2030, using 2023 as the base year.
Operational Focus: Key emission sources—business travel, energy consumption, and food—will be addressed through targeted internal policies and decarbonization levers.
Annual Monitoring: Progress will be disclosed annually via ESMA’s Annual Report and Environmental Statement, with future revisions adjusting to external changes and data improvements.
The European Securities and Markets Authority (ESMA) has released its first Climate Transition Plan, marking a strategic shift to align its internal operations with the EU’s long-term climate goals and the Paris Agreement. With this initiative, ESMA targets climate neutrality by 2050 and sets interim GHG reduction goals of 15.4% by 2027 and 31.4% by 2030 compared to its 2023 emissions baseline.
“In 2023, ESMA base year emissions amounted to 457.1 tCO2e, mainly resulting from staff business travel, energy and food consumption,” the agency noted in the report.
The plan outlines a series of internal actions, including the introduction of an annual GHG emissions budget for air travel, optimising energy usage by closing underutilised office floors, and promoting lower-carbon food options in staff canteens and catering services.
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“Our plan is a demonstration of commitment,” said Natasha Cazenave, ESMA’s Executive Director. “As market participants step up to implement their transition strategies, we must hold ourselves to the same standards.”
Approximately 72% of ESMA’s 2027 reduction target could be achieved through actions under its direct control—such as switching long-haul flights from business to premium economy, implementing energy-saving measures, and changing catering orders to reduce their carbon footprint.
To maintain progress toward its 2030 target, ESMA acknowledges that greater reliance will be needed on external stakeholders. These include landlords for decarbonising the energy supply, catering providers for adjusting meal offerings, and broader changes in aviation industry practices.
Financial analysis within the plan suggests possible annual savings between €85,000 and €120,000 by 2030, stemming from lower travel costs, energy efficiency, and reduced office rental space.
While ESMA may consider carbon credits or Sustainable Aviation Fuel (SAF) certificates in the future, it emphasizes that gross GHG emission reductions are the priority in the short-to-medium term.
“The need for a revision of this TP will be considered on a regular basis,” the plan notes. “Such revisions may lead to adjustments to ambition and actions planned, especially where external factors have caused delay or where mitigation outcomes were overestimated.”
Implementation and oversight will fall under the purview of ESMA’s Executive Director and Management Board, supported by the Eco-management Steering Committee. Data quality management and performance indicators will guide ongoing assessments.
Cazenave added, “Balancing our climate objectives with our ability to deliver on our mission will require careful judgement. But we are confident that, with the engagement of our staff and suppliers, we can make meaningful progress.”
This plan supports ESMA’s broader mission under the European Green Deal and aligns with sustainability directives such as the CSRD and CSDDD, offering a model for other EU bodies in operational climate governance.
Read Esma’s Climate Transition Plan Here.
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