19.04.2024
Our sustainability strategy, that sets out how we aim to achieve our ambition for catalysing the growth of a sustainable pensions industry, has just been published.
The aim of the strategy is to lead by example on sustainability. It builds on our Responsible Investing and Diversity and Inclusion strategies, alongside our Community Impact plan, so that our approach to ESG is consistent and coordinated.
The strategy is underpinned by the Five Capitals framework for sustainability, our organisational values and our most material ESG risks as a business.
Making a difference through four sustainability goals
We chose to focus our sustainability strategy on a few areas which are most important to us and where we believe we can make the biggest difference. The strategy outlines four key sustainability goals, these are:
- Demonstrating excellence in responsible investment
- Ensuring effective stakeholder engagement with integrity and respect
- Championing collaboration and leading by example
- Being accountable for minimising our own environmental impacts
Within the strategy, we’ve shared our key performance indicators that'll help us measure our progress against these goals and keep us accountable.
Committing to sustainability targets
Our sustainability strategy highlights a number of targets we aim to achieve. These include:
- Having achieved Net Zero for Scope 1 and 2 for our direct operations, we'll aim to reach Net Zero in our operational supply chain and travel emissions by 2035 or sooner
- We'll contribute to the global transition to Net Zero through our investment portfolio and engagement activities
- Year-on-year, we'll achieve an increase in representation across all under-represented groups
- We'll ensure that at least 500 days are volunteered across the organisation
Our Chair, Kate Jones, said: “As climate change, social inequality, and corporate purpose receive unprecedented global attention, it’s important that we consider material ESG risk and opportunities not only in our investment decisions, but also across all our activities and decisions as a business. We believe that by embedding sustainability in our business model, we will enhance value for our stakeholders and surrounding communities.
“We are proud to launch our first sustainability strategy which sets out four key outcomes-focused sustainability goals for our organisation in areas we believe we can make a real difference. Our ambition is to catalyse the growth of a more sustainable pensions industry and lead by example by moving the needle on Diversity & Inclusion and playing an active role in the communities we work in.”
