Progress
Momentum on two fronts. In the portfolio, how the companies we partner with are engaging with sustainability. As an investor, our firm-level performance and progress towards our targets. We show where we have gained ground, and where we have more work to do.
Progress
At Atomico, we strive to lead by example, which is why in 2025 we set proportionate yet ambitious sustainability targets for ourselves as a firm, as well as engagement targets for our portfolio. We continue to work towards these targets and aim to meet them by 2030.
For more information on the work we do on Conscious Scaling, please see our Responsible Investment and Sustainability Policy and our Diversity, Equity and Inclusion Policy.
Climate
Maintain Atomico scope 1 and 2 emissions at 0 tCO2
At least 70% of Atomico total supplier spend to be with suppliers who have a decarbonisation target
100% of all Atomico portfolio companies with >30 FTE to measure their own emissions annually (+1yr Atomico holding period)
100% of all Atomico portfolio companies who have reached the ‘climate maturity threshold’, to adopt a near term decarbonisation target
‘Climate maturity threshold’
>$50m revenue
>$250m capital raised
>500 FTEs
+1yr Atomico holding period
Atomico have board seat/observer rights
Commitment to increase our internal carbon fee annually in line with inflation
Social
Hire 50% female and at least 30% minority ethnic backgrounds for all open roles
40% of investments by number in companies with at least one underrepresented (female &/or diverse ethnicity) founders over the life of the fund
100% portfolio companies have a DEI policy (+1yr Atomico holding period)
Governance
100% portfolio companies have a sustainability policy (+1yr Atomico holding period)
100% portfolio companies have a board member responsible for sustainability (+1yr Atomico holding period, Series A+)
Commitment not to invest in follow-on rounds in any portfolio company which is non compliant with its sustainability term sheet clauses
Carbon emissions calculation
Since 2023 our GHG emissions scopes 1, 2 and 3 (including scope 3.15) have been calculated by Apiday using an approach aligned with the GHG protocol. See here for further details on their methodology. In 2022 our GHG emissions were calculated by Watershed.
Each annual figure for scope 3.15 financed emissions reflects the active portfolio composition as of that calendar year only. If a portfolio company has not submitted their annual emissions data in the survey, Apiday & Watershed estimated on their behalf using company location, industry, headcount, valuation, revenue and % ownership.
Internal carbon fee
In 2023 we introduced an internal carbon fee. We chose to differentiate between emissions that our company controls, and for emissions where the responsibility is shared among many actors. The fee we set was;
100 USD/tCO2 for our scope 1, 2 & 3 GHG emissions (excluding 3.15 financed & 3.1 goods & services) i.e emissions we are directly attributable for and are within our control, such as business travel, office expenditure, employee expenditure, capital goods purchases
10 USD/tCO2 for all remaining scope 3 GHG emissions (3.15 financed portfolio & 3.1 goods & services) i.e emissions from external actors which are out of our control, such as our share of our portfolio activities, and activities we ask lawyers, accountants e.t.c to do on our behalf
Each year, we increase our fees in line with UK inflation (based on a rounded average of CPI monthly inflation rates for the previous 12 months). In 2024 the increase was 3%, followed by another 3% increase in 2025. Our current internal carbon fees stand at;
106 USD/tCO2 for our scope 1, 2 & 3 GHG emissions (excluding 3.15 financed & 3.1 goods & services)
10.6 USD/tCO2 for all remaining scope 3 GHG emissions (3.15 financed portfolio & 3.1 goods & services)
Portfolio data collection & analysis
Since 2022 Atomico has run an annual sustainability survey with all its active portfolio companies to collect information on the sustainability practices of the portfolio. The survey is voluntary and in 2025 81 portfolio companies were requested to fill it in, with 84% sharing their information. This compares to 79% of 81 active portfolio companies completing the survey in 2024, 66% of 82 active portfolio companies completing the survey in 2023, and 74% of 78 active portfolio companies completing in 2022.
Data on sustainability practices in place in the portfolio is asked on a binary (yes or no) basis. Here, only active portfolios are tracked, with the data for the years before the Atomico investment not being backfilled. If the company has previously not submitted any data in the survey, a negative answer is assumed by default. If the company has answered the survey in previous years but failed to do so this reporting year, the same policies are assumed to still be in place unchanged unless we know otherwise.
We recognise that this introduces a possible bias in the reporting as the number of active companies reporting in each year changes, as does which companies are reporting with some doing some years and not others. Hence, we will continue to work towards a complete coverage rate when reporting on our portfolio activities.