Man Group is committed to reducing its absolute carbon footprint and to being consistent and transparent about the progress we are making. As a key part of our Corporate Social Responsibility strategy, you can read more about how we manage our environmental impact in our CSR Brochure.
Having surpassed the targets we set for 2020, we are on track to meet our emissions reduction targets set to 2022, and are proud to commit to our strategic pathway to net zero carbon in our global workplaces by 2030.
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.
Our Pfäffikon office is a short walk from Lake Zurich and is powered by renewable hydro-electric energy. The office has recently put in place smart, motion-sensored LED lamps, as well as more efficient batteries for our back-up power. This has driven savings of ~19,000 KwH each quarter.
Environmental Training and Awareness
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 campaigns are run in offices focussing on areas such as increasing recycling, reducing energy use, cycling to work and removing 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 2020, total emissions (including scope 2 market-based) have decreased by 66% from 2019. This was achieved through the second phase of a real estate strategy to streamline our data centre provision and improved energy efficiency of our property portfolio. We also acknowledge that the reduction in greenhouse gas grid emission factors has contributed significantly towards the overall decreasing trend in Man Group’s carbon footprint, as well as homeworking during the Covid-19 pandemic.
*Pursuant to the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013.
Scope 1 (Fuel)
We have seen a reduction by 31% from 2019 in total scope 1 emissions. This achievement has been enabled through heating efficiencies and reduced occupancy at Riverbank House in London.
Scope 2 Location Based (Purchased Electricity)
Employing country-level emissions factors, we have seen a decrease in emissions, saving 1,017 MTCO2e of carbon from 2019. This is largely due to the second phase of works in the UK to streamline our data centre provision and energy efficient equipment upgrade projects across our offices globally.
Scope 2 Market Based (Purchased Electricity)
The reported scope 2 market-based emissions reflect our commitment to using renewable energy in jurisdictions where it is available and reducing our energy usage globally. In 2020, our Scope 2 Market Based emissions were reduced by 22% from 2019.
Scope 3 Business Travel
Due to the travel restrictions during the Covid-19 pandemic and advances in our remote working infrastructure, there has been a sharp decrease in reported business travel Scope 3 emissions in 2020 by 88%.
In 2020, total water usage was 17,372 m3, (2019: 27,221m3). This reduction in water usage is due to reduced occupancy levels in our offices due to the Covid-19 pandemic.
Man Group takes a zero waste to landfill approach in jurisdictions where these services are available. In 2020, 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.
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.
We strive to make our contribution to the Paris Agreement ambition to keep temperature rise well below 2°C pre-industrial levels. In 2019, we set company-wide targets in line with the Science Based Targets initiative to limit the global temperature increase to a maximum of 1.5°C, all of which were met in 2020.