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 can be found in our Sustainability Report​ and Group Sustainability Policy.

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.

Own operations
We strive to find ways to further reduce waste, and we’ve established a focused working group who are undertaking waste audits and introducing recycling targets. Our food waste audit led to the introduction of new bins and clearer guidance for colleagues on different types of waste streams, including sections for compost, as well as introducing more recycling points within meeting rooms. Our water audit has led to water saving tap inserts added to some of our basin taps and water saver bags in some cisterns with more work planned to increase these across our head office.

Scienced-based targets
We’ve set science-based reduction targets for our operational (Scope 1 and 2) and investments (Scope 3) emissions, which have been validated by the Science Based Target initiative (SBTi). Specifically, we commit to:

Operational reductions:

• Reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 42% by 2030 from a 2022 base year.

Investment reductions:

• Align our Scope 1 and 2 portfolio temperature score by invested value within our listed equity, corporate bond and corporate loan portfolio from 2.64°C in 2022 to 2.03°C by 2029.
• Align our Scope 1, 2 and 3 portfolio temperature score by invested value within our listed equity, corporate bond and corporate loan portfolio from 2.79°C in 2022 to 2.23°C by 2029