Man Group is committed to reducing its absolute carbon footprint and to being consistent and transparent about the progress we are making.

Having exceeded the targets we set for 2019, we have set new targets through to 2022 to reduce our emissions using technological upgrades and active estate management strategies.


Environmental Policy

Our policy and processes centre on: using natural resources responsibly; minimising the environmental impact of our activities through maximising energy efficiency; reducing greenhouse gas emissions and; recycling and / or minimising waste. Our UK offices (which account for 70% of our operation based on headcount) are covered by environmental operating procedures which are aligned to ISO 14001.

Board Oversight of Environmental Matters

Our Man Group Board has responsibility for Man Group's environmental impact and ensures that Man’s Environmental Policy Statement* is implemented and reviewed. The Board has a collective role in providing environmental leadership throughout Man's global operations and is committed to continual improvement in environmental performance. It appoints and delegates competent persons for day-to-day environmental management.

* Contained within Man’s Environmental Health and Safety Policy.

Environmental Risk Management

Man Group considers operational climate risks 15+ years into the future. It does this through multi-disciplinary company-wide risk identification, assessment and management processes. The types of risks considered include current and emerging regulation, technological changes and upgrades, market risks, reputational risks, acute and chronic physical operational impacts as well as upstream and downstream risks.

Green Buildings

Minimising our environmental impact is at the centre of our real estate strategy. We occupy six buildings certified by LEED (Leadership in Energy Efficiency and Design) and two by BREEAM (Building Research Establishment Environmental Assessment Method). These buildings provide workspace for 86% of our staff globally.

Case Studies

Our Pfäffikon office is a short walk from Lake Zurich and is powered by renewable hydro-electric energy. The office underwent a full refurbishment in 2019 which included upgrading the lighting to smart LED lamps. This has driven a saving of 8500kwh over a quarter and continues to drive energy efficiency savings.


Riverbank House is rated “Excellent” via the Building Research Establishment Environmental Assessment Method (BREEAM). The building has a green roof, rainwater harvesting and solar power generation. During 2019, there was a key focus on reducing natural gas usage within Riverbank House which saw a 30% reduction in usage as compared with 2018. We continue to upgrade plant and equipment to drive further efficiencies to reduce cost and climate impact. We are targeting a reduction of at least 15% in energy usage over 2020.




Carbon Offsetting

Man Group has made an ongoing commitment to offset its reported Scope 1, Scope 2 Market-Based and Scope 3 travel emissions by funding an equivalent carbon dioxide saving elsewhere. We aim to offset our emissions through a range of externally audited carbon reduction projects.

Environmental data compilation systems

We strive to deliver clear and transparent reporting that captures the measurable elements within our control. We monitor and track our global environmental impact using specialist ESG tracking software and an energy services consultancy which help us to mitigate risk and reduce our carbon footprint.

Responsible Procurement

Man Group offices procure renewable sources of energy and implement zero waste to landfill services in jurisdictions wherever these services are available. We utilise ISO standards and ratings systems (such as energy star for IT equipment and green star for paper supplies) to assist us in choosing sustainable products. We also ensure all our equipment complies with the Restriction of Hazardous Substances EU Directive.

Vendor Management

As a condition of supplying services to Man Group, our consultants, contractors and sub-contractors are directed to use natural resources responsibly and to minimise their environmental impact through maximising energy efficiency, the reduction of greenhouse gas emissions, and the recycling or minimisation of waste. Contract managers and procurement specialists are responsible for ensuring our consultants, contractors and sub-contractors fulfil their duties in this area through contract audits and performance reviews.

Environmental Performance Audits

In 2019, Man had all its UK operations comprehensively audited in line with the Energy Savings Opportunity Scheme. The recommendations from this audit have fed into our new energy saving objectives looking ahead to 2022.

Task Force on Climate-related Financial Disclosures (TCFD)

Man Group is working to bring our future environmental reporting in line with the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD seeks to develop consistent climate-related financial risk disclosures for use by companies in providing information to stakeholders.


Environmental Training and Awareness

Environmental Training


All Man Group staff complete a mandatory annual training module which outlines Man’s environmental policy and objectives. The course describes ways in which staff can contribute to minimising Man’s environmental footprint such as reducing waste through re-using and recycling, developing and maintaining systems to monitor and measure our use of resources, engaging with staff and suppliers on environmental best practice and ensuring anything we purchase comes from sustainable and reputable sources.

Environmental Awareness


Environmental awareness campaigns are run in offices focussing on areas such as increasing recycling, reducing energy use, cycling to work and minimising single use plastics. Such campaigns include ‘Disposable Free Zones’ in the Riverbank House Restaurant, promotion of the UK Cycle to work scheme and applying energy intensity metrics to rank the best and worst performing Man offices to promote energy saving efforts. Global environmental performance information is also published on the company intranet.


The information below details our mandatory reporting of greenhouse gas emissions for the year.*

In 2019 total emissions (including scope 2 location-based) have decreased by 19% from 2018. This has exceeded a target of an 8% reduction set for the year. This was achieved through the first phase of a real estate strategy to streamline our data centre provision and improve operational efficiency of our property portfolio. 2019 will form a new baseline year for emission and efficiency target reductions to 2022. We also acknowledge that the reduction in greenhouse gas grid emission factors has contributed significantly towards the overall decreasing trend in Man’s carbon footprint.

*Pursuant to the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013.

Emissions by scope Year End 2019 MTCO2e Year End 2018 MTCO2e
 Scope 1 (Fuel)  1,136  1,388*
 Scope 2 Location Based (Purchased Electricity)  4,253  6,144
 Scope 2 Market Based (Purchased Electricity)  464  3,709
 Scope 3 Air Travel  3,684  3,678
 Total - Location based  9,073  11,210
 Total - Market based  5,284  8,775

* Scope 1 emissions have been adjusted in 2018 and 2019 to reflect a wider reporting boundary to ensure we are capturing all the emissions that are directly under our operational control. 2018 previously reported as 223 MTCO2e.

Scope 1 (Fuel)


We have seen a reduction by 18% from 2018 in total scope 1 emissions. This achievement has been enabled through heating and generator efficiencies at Riverbank House in London.

Scope 2 Location Based (Purchased Electricity)


Employing country-level emissions factors, we have seen a decrease in emissions saving 1,891 MTCO2e of carbon. This is largely due to works in the United States to streamline our data centre provision and LED lighting upgrade projects in Switzerland and the UK.

Scope 2 Market Based (Purchased Electricity)


The reported scope 2 market based emissions reflects our commitment to using renewable energy in jurisdictions where available. In 2019, 73% of our staff were based in offices using 100% renewable power.


Scope 3 Air Travel


There has been a slight increase in scope 3 emissions due to business expansion and operational requirements. We continue to monitor our air travel with a robust travel policy and approval measures in place.



Currently our water usage figure comes from operations within our control. In 2019, total water usage was: 27,221m3 (2018: 37,401 m3). The reduction in water usage in 2019 is due to cooling tower upgrade works at Riverbank House in London.



Man Group takes a zero waste to landfill approach in jurisdictions where these services are available. In 2019, 67% of our operations (based on headcount) were zero waste to landfill. Man is working to improve its global tracking of waste streams to enable comprehensive reporting across all offices.

Intensity Metric

The emissions we are reporting have been calculated using an intensity metric which will enable us to monitor emissions independent of activity. As Man Group is a people-related business, we expect that any changes to headcount will impact the property space we occupy and the amount of business travel we use. Therefore, emissions per employee are the most appropriate metric for our business, as shown in the table below.*

*The average number of employees in 2019 was 1,413 (2018: 1,376), as disclosed in Note 4 to the financial statements.

Emissions per Employee Year End 2019 Year End 2018
 Scope 1 (Fuel)  0.8  1.0*
 Scope 2 Location Based  3.0  4.5
 Scope 2 Market Based  0.3  2.7
 Scope 3 Air Travel  2.6  2.7
 Total - Including Location Based  6.4  8.2
 Total - Including Market Based  3.7  6.2

* Scope 1 emissions have been adjusted in 2018 and 2019 to reflect a wider reporting boundary to ensure we are capturing all the emissions that are directly under our operational control. 2018 previously reported as 0.2 MTCO2e.

Objectives and Targets

We have set new goals to 2022. We aim to set a science-based target in line with the Paris Agreement on climate change; currently science-based financial sector targets are not available but when the methodology is delivered, we will adjust our targets towards the Paris Agreement as required.


By year end 2022

Global Operations
Set a science-based emission target for all global operations.
Greenhouse Gas and Energy
Scope 1 Emissions – Natural Gas & Fuel
Reduce our scope 1 Natural Gas and Fuel emissions by 30% through energy efficiencies saving a total of 341 MTCO2e
Scope 2 Emissions – Electricity
Reduce global energy usage 10% year on year through energy efficiencies saving a total of 808 MTCO2e
Reduce scope 2 market based emissions by 50% by increasing energy efficiency and 100% renewable power supplies saving a total of Scope 2 market-based emissions of 232 MTCO2e
Reduce baseline usage 2% per year saving a total of 1,600 m3

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