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.
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 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.
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.
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.
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.
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