We face interlinked environmental crises, from climate breakdown, extreme weather, and species loss to water scarcity and unsustainable food production. We take action in our operations, but our greatest impact and influence is through how we invest our customers’ and clients’ money.
Our operations have a relatively small environmental impact, compared to other sectors, but we still minimise it where we can. Through our environmental management system, we focus on reducing our biggest impacts first. This means reducing business flights and the energy used in our buildings.
In our buildings we’ve already done a lot to reduce our impact but we want to do more. And while air travel is sometimes a necessity as a global company, we also need to take responsibility for the environmental impact of this travel and do what we can do to reduce it.
In 2018 we set a new baseline for our operational greenhouse gas emissions after a period of structural change. In 2021 we stated our ambitious carbon commitments.
We are supportive of the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations, encourage companies to report aligned to the guidance and published our own first report of our approach across our operations and investments.
|Flights and rail||68%||65%||13%|
|Transmission and Distribution||1%||1%||1%|
|Working from home||55%|
|District Heating||1%||District Heating||1%|
|Scope 3||Flights||68%||Flights and rail||65%||Flights and rail||13%|
|Transmission and Distribution||1%||Transmissions and Distribution||1%||Working from home||55%|
|Transmissions and Distribution||1%|
Our Climate change – our approach for investments document sets out the role we play in financing the transition to a low-carbon economy, and the adaptation to climate change impacts through our products and investment decisions.
Through the substantial real estate assets we manage, we have a significant opportunity to drive sustainability benefits for wider society. We have set out a number of climate-related targets:
|All the landlord-procured electricity in the real estate Aberdeen Standard Investments manages in the UK will be 100% renewable electricity by 2020, and we will increase the amount of renewable electricity procured globally.||We procure 100% renewable electricity in the UK.|
|Achieve ‘net zero’ emissions in the real estate Aberdeen Standard Investments manages by 2050.||We are setting out our pathway to net zero during 2020.|
Over-consumption of non-renewable resources and generation of waste adds to the environmental crisis.
In our operations, we have targets for removing single-use plastics and being a zero-waste to landfill business, and are focused on minimising our use of non-renewable resources. In the UK our procured cut-sheet paper is 100% sustainably sourced and we are taking this approach globally.
|We will remove all single-use plastics from our offices where feasible by 2020.||Read our 2019 update on progress.|
|We will send zero waste to landfill from our main UK offices by the end of 2020.||We send no waste to landfill from the UK offices where we manage the waste, and are working with our landlords at our other large sites.|
We have a number of articles on waste and consumption issues for investors to consider.
We are also facing unprecedented species extinction rates. Not only are the species themselves at risk, so is everything connected to them, which includes us.
Operationally, we focus on educating our people through biodiversity information sessions, and working with charities and partners on projects which benefit nature and habitats.
Through our investments we aim to ensure that we are going beyond just minimising harm, by looking at benefits that will enhance the local environment and community – including enhancing biodiversity – through our real estate impact dial.
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