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Greenhouse Gas Emissions (GHG) Tracking & Reduction Targets 

Scope & Methodology: 

  • Scope 1- Direct Emissions: Scope 1 emissions are not applicable to NexGen, as we do not own any facilities or vehicles. 

  • Scope 2- Indirect Emissions from Facilities: NexGen has one corporate office in Lakewood, Colorado which occupies approximately 2,604  square feet of leased space and 0 square feet of residential space. Therefore, all facilities emissions fall within Scope 2. We use the building's total electricity consumption data provided from our Property Manager, divided by the square footage of our office space to calculate average kilowatt hours (kWh) of electricity used. After kWh consumption is determined, we use the GHG emissions factors from the U.S. Environmental Protection Agency’s (EPA) eGRID to calculate our office's emissions (per our location/region).  The formula we used to calculate emissions is: GHG emissions (kg CO₂e) = Electricity consumed (kWh) x EPA regional GHG emissions factor (kg CO₂e/kWh) 

  • Scope 3 – Indirect Emissions from Commuting: We track and set reduction goals for other indirect emissions, such as employee commuting. Through our remote work policies and sustainable business practices, we have significantly reduced commuting-related emissions. 

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GHG Emissions Reduction Targets & Reporting: 

Scope 2: 

  • Reduction Target: Starting in 2020, we aimed to reduce our electricity consumption by 30% over five years. 

  • How: NexGen moved into a smaller office space reducing our overall electricity consumption, implemented energy-efficient lighting and equipment, and encourages energy-saving behaviors among our team members. 

  • Result: As of 2023, NexGen has exceeded this target by reducing Scope 2 GHG emissions by 44%—14% beyond our goal. 

Scope 3: 

  • Reduction Target: Starting in 2020, we aimed to reduce employee commuting emissions by 30% over five years. 

  • How: NexGen has established a Remote Work Policy, including best practices, standards, and updated our management approach for a remote workforce.  

  • Result: As of 2023, NexGen has exceeded this target by reducing Scope 3 GHG emissions by 90%—66% beyond our goal. 

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