On a daily basis, we motivate investors to support projects that mitigate climate change. So as a leader in climate finance, we must deliver a clear commitment to carbon neutrality as a company.
In 2019, we managed to reduce our total GHG emissions by 15%, with an estimated 1,661 tonnes of CO2 equivalent. This is more or less the annual emissions from the energy usage of roughly 350 European houses. The main source of GHG emissions during 2019 was, as expected, business travel. However, it was also the area where the most emissions were reduced compared to the previous year in absolute terms (-240 tCO2e).
For the first time we also assessed, at a high level, the indirect CO2 emissions associated to our investments. This will help us understand our fund portfolio from a climate point of view.
In order to offset the GHG emissions that we could not yet avoid, we have decided to continue supporting the Isangi REDD+ project in the Democratic Republic of the Congo. The project helps to protect the natural habitat of multiple endangered species and also to alleviate local poverty by promoting sustainable economic development in remote areas. Please find more information on Isangi REDD+ here.
Unsurprisingly, we expect even fewer emissions in 2020, however we will continue to support this project to ensure its continuation, especially in these unusual times.
“Implementing an emissions reduction action plan is a priority for the management at responsAbility. We have assessed the full spectrum of emissions and we are looking to further minimize energy consumption in our offices worldwide, reduce the impact of our events and, of course, reduce our travel emissions.”
– Michael Fiebig, Chief Operating Officer
The COVID-19 pandemic has shown us new ways of working and interacting, and the positive lessons learnt need to be maintained whenever we can go back to normal. Online meetings, events and remote assessments will be the new normal and will contribute to decrease our footprint even more.
The full footprint report (GHG) produced by South Pole can be found here.