International specialist banking and asset management group, Investec, has reached carbon neutral status with the assistance of Climate Neutral Group. We look forward to the positive socio-environmental impacts to come.
Investment giant says combination of direct emissions savings and South African landfill gas projects have helped it secure ‘carbon neutral’ status
Global finance giant Investec has reached ‘carbon neutral’ status, the firm announced today, as it publicly pledged to support the net zero transition and step up efforts to curb its greenhouse gas emissions.
Speaking at an event hosted at the Investec offices in Sandton, Johannesburg in partnership with the Johannesburg Stock Exchange (JSE), Fani Titi, joint CEO of Investec Group, said that “taking action on climate, and publicly committing to net zero, recognises the limits of our planet”.
“Being carbon neutral is vital to the fortunes of future generations and reflects the leading role Investec wants to play in the wellbeing of our communities,” he added.
The company said that it has already reduced its emissions per employee by 55 per cent over the past decade, while seeing its headcount more than double. It also stressed that “as new technologies become available and greater efficiency is possible, the Group hopes to further reduce this consumption”.
“Our first priority is to avoid, then limit and minimise our direct carbon impact from our day-to-day operations, as well as create awareness to encourage positive sustainable behaviour among our stakeholders,” explained Tanya dos Santos, head of Group Sustainability at Investec. “Only then do we offset our remaining carbon emissions to ensure a net zero carbon impact.”
The company said 70 per cent of the group’s total emissions arise in South Africa, predominantly from energy consumption. To tackle its outstanding carbon emissions, Investec announced it has partnered with Dutch carbon management firm Climate Neutral Group to support the Joburg Waste Energy offset project, which captures methane from five landfill sites in Johannesburg and turns it into electricity.
Outside South Africa, Investec’s operations are primarily located in the UK, where its holding company Investec PLC is one of nine companies in the UK banking and financial services sector to sign up to the Task Force for Climate Related Disclosures (TCFD).
Earlier this month, Investec launched a structured product that gave South Africans access to a global environmental index for the first time, while it plans to list a renewable energy fund later this year, Titi added.
“The climate crisis and how we respond is critical to the success of our business,” he said. “This is a journey and we continue to find opportunities to finance and support a cleaner, more inclusive world.”
Article originally published on BusinessGreen