XPS Pensions Group has become net carbon neutral by offsetting the carbon emissions across its entire value chain, in a drive to be a more sustainable business.
These offsets cover the group’s scope 1,2 and 3 carbon emissions, which relate to the company’s direct carbon emissions, indirect carbon emissions from the generation of purchased electricity and emissions from customers and/or other suppliers related to their products and services.
In order to offset these emissions the company is purchasing carbon credits in high-quality UN-approved renewable energy. This offsets will be made with immediate effect.
XPS Group said that as well as offsetting today, it will undertake efforts to reduce its emissions in coming years.
XPS is also using its advisory position, with assets under advice totalling £140 billion, to encourage clients to reduce the environmental impact of their own activities and investments.
As signatories of the UN Principles of Responsible Investment and the FRC’s UK Stewardship Code, the Group actively influences and partakes in industry-wide initiatives to help tackle climate change.
XPS Pensions Group Co-CEO Paul Cuff says: “Becoming a carbon neutral business is a major step forward and we have invested in highly reputable carbon credits to help achieve this.
“We do, however, recognise this can only be part of the solution in solving the climate crisis, which is why we’re committed to undertaking multiple initiatives to reduce our carbon footprint directly. We are also using our wider influence to create positive change by encouraging capital flows to move in the direction of a more sustainable future.”