Reducing our environmental impact

We are committed to acting responsibly and have been focusing our efforts on becoming more sustainable in our business operations, and reducing our impact on climate change.

We are proud to maintain our CarbonNeutral® certification although we recognise that this is a shorter term solution whilst we work towards reducing emissions across all three scopes to as close to zero as possible, to meet our target of being net-zero by 2050 or sooner.

Further information on how we our reducing our environmental impact can be found in our latest sustainability report

Further activity

We have extended our environmental focus, to other areas of our business including our customers, suppliers and our investments where we feel we can have the most impact:

Customers and Products
We have an active focus on changing customer demands and attitudes, exploring propositions that support changes in vehicle fuel type as well as changes to usage. We have made a change to the Telematics device packaging which is now entirely recyclable, a 50-60% increase compared to the previous packaging.

Supply Chain
We assess all of our key and critical suppliers against ESG topics, examining their environmental, data protection and human rights policies. We are committed to exploring with individual suppliers how we can help them drive lower emissions.

Investments
We are committed to maintaining an average ESG rating of “A” on our fixed income portfolio, based on MSCI ratings (scale CCC – AAA). We aim not to invest in companies that mine and burn coal, produce tobacco or controversial weapons. We are a signatory of the United Nations Principles of Responsible Investment (UN PRI), which ensures that Environmental, Social and Governance criteria are integrated into the investment process and are commiitted to reporting on an annual basis to the UN PRI in respect of our responsible investment activties.

We work with our investment managers to ensure that companies we invest in abide by the UN Global Compact principles and make decisions on remedial actions when we find these standards are not being followed. All our current external investment managers are signatories to the UN PRI and have responsible investment and active engagement policies.