Our climate change commitments

As a mutual, we take the long-term view when looking at what’s best for our investments, business, customers, members and society as a whole. We have a legal duty to act in the best interest of our customers, which is why we've developed our own climate change action plan.

We might not be able to predict the future, but we can prepare for it by understanding the risks and opportunities arising from climate change. We believe by doing this, we can help to safeguard the long-term interests of our customers. 

Recognising that climate change is an issue that can impact all areas of our business, we’ve created a strategy that applies to our investment activities, operations, approach to risk management and our commitments to our stakeholders. 


We have five key commitments:

Climate risk policy

We require our asset managers to develop and put in place a climate risk policy.

Low carbon economy

We’ll promote the case for moving to a low carbon economy to policymakers and influential stakeholders.

Risk management

We’ll consider climate change risk within our risk management and business planning.

Operating efficiently

We’ll consider climate change risks and opportunities in our own operations.

Keeping you up to date

We’ll report on our progress in our annual report and on our website at least once a year, in line with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).

We’ve already made a start

It’s important to us that we look for ways to make our own business more efficient, so that we can reduce our own carbon footprint and the impact our offices have on the environment.

We’ve reduced our CO2 emissions by 495 tonnes in a year, from 3,395 in 2017 to 2,900 in 2018.

We’ve removed paper coffee cups across all our offices, as well as single-use plastic cups.

We’ve invested in meeting technology to reduce the amount of travel between our offices.

As part of our ongoing commitment to fighting climate change, we’re creating an Environmental Improvement Plan that will set environmental targets across our offices and operations in relation to energy efficiency and carbon emissions.

Some of these include:

  • Achieving a BREEAM Certification of Very Good or above for any new offices
  • Reducing energy usage and carbon emissions in our current buildings per head   
  • Setting targets for reducing waste per head
  • Continuing to send no office waste to landfill
  • Improving the way we separate waste to increase our recycling


What this means for you

We’ll continue to look for ways to reduce our impact, become more efficient, and always think about the environment when making decisions about our offices and operations.

We take this responsibility seriously, so we’ll measure how we’re performing against our commitments on a regular basis, and will report our own environmental footprint publicly to our customers and members, too.