Commitment to the environment

Environmental policy and climate change statement

Our climate change responsibility extends to our business activities where we play a critical role in funding a sustainable economy that is cognisant of the world's limited natural resources. 

climate change icons

We recognise the risk of climate change and are committeed to supporting the transition to a clean and energy-efficient global economy. We believe the greatest impact of SDG 13 (climate action) and SDG 15 (life on land) will be made by prioritising SDG 6, SDG 7 and SDG 11

Indirect impact through our business activities 

 

Investec's environmental policy and climate change statement takes into account the challenges that climate change presents to the global economy. We believe that as a niched specialised financial services organisation, and given our positioning in the developed and emerging worlds, we can make a meaningful impact in addressing climate change. We recognise the complexity and urgency of climate change and welcome the voice of all stakeholders as we make this transition together to a cleaner low-carbon world in a way that is most responsible for all participants. 

Highlights

Reviewed and strengthened our climate change statement and policy on coal projects

Our Power and Infrastructure Finance team launched a new renewable energy investment vehicle, Revego Africa Energy

Signed up to the United for Wildlife Financial Taskforce 

Climate change disclosures 

 

Stakeholders are increasingly expecting greater non-financial disclosures. This includes disclosures on environmental and social impacts as well as benchmarking against our peers. The Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) has gained more traction as the Prudential Regulation Authority has issued an updated supervisory statement clarifying expectations around climate-related disclosure requirements. We recognise and support the recommendations of the TCFD to report clear and consistent information and have expanded on our previous disclosure. This is the start of a long-term process to build a better understanding of environmental, social and governance (ESG) reporting and climate-related risks and opportunities and we will enhance our disclosure overtime in line with industry guidelines and best practice.

 

Learn more about our TCFD response

 

Direct operational impact 

 

We recognise that we have a responsibility to understand and manage our wider carbon footprint. As a result our approach is focused on limiting our direct operational impact and creating awareness to encourage positive sustainable behaviour. 

Breakdown of group emissions

2.8%

decrease in carbon emissions for the group

down to 5.74

tonnes of CO2e in emissions per average headcount

down to 0.35

tonnes of CO2e in emissions per m2 office space

Group carbon footprint

Click below to view our respective carbon footprints as calculated according to the international Greenhouse Gas (GHG) Protocol's Corporate Accounting and Reporting Standard (revised edition).

  • Group carbon footprint

        31-Mar-19 31-Mar-18      
        Units Tonnes of COequivalent Consumption in unit of measure Tonnes of COequivalent Consumption in unit measure Variance in tonnes of COequivalent Notes
    Scope 1     1 901   2 168   -12.30%  
    Energy Natural gas kWh 296 1 609  702 462 2 508 683 -35.90% 1
      LPG stationary L 26 16 984 24 16 055 8.30%  
      COpurchased kg - 306 - 171 - 2
      Diesel L 6 2 341 44 17 113 -86.40% 3
    Refrigerant  Refrigerant  kg 1 361 843 1 433 884 -5%  
    Employee travel Vehicle fleet km 211 1 153 659 204 1 100 363 3.40%  
    Scope 2     29 598 39 048 367 32 394 42 096 188 -8.60%  
    Energy Electrical energy consumption kWh 29 598 39 048 367 32 394 42 096 188 -8.60%  
    Scope 3     27 361   26 018   5.20%  
    Paper Paper consumption  t 380 388 404 411 -5.90%  
    Waste General waste t 19 47 18 53 5.60% 5
    Employee travel Rail travel km 79 1 865 186 71 1 624 080 11.30%  
      Road business travel km 227 1 254 882 216 1 184 132 5.10%  
      Taxi km 35 215 981 36 217 033 -2.80%  
      Commercial airlines  km 26 622 86 559 177 25 273 83 324 230 5.30%  
    Total Emissions     58 860   60 580   -2.80%  
    No scope                
    Water Water consumption kl 103 450     108 108    
    Recycled waste Recycled waste t 960     869    
    Intensity                
    Emissions per average headcount     5.74*   6.23*      
    Emissions per m2 office space     0.35   0.36      
    Water consumption per average headcount   kl   10.09*   11.11*    
    1. Consumption decreased as our UK head office relocated to more resource efficient premises during the year.

    2. 2018 data restated due to overstatement during capturing.

    3. Decrease in diesel consumption due to fewer power outages experienced in South Africa in the current financial year. Significant increase expected in 2020 as reserves were replenished in April 2019. Diesel consumption also down in the UK as the head office moved to more resource efficient premises during the year.

    4. Energy consumption declined as a result of electricity and gas reduction initiatives across all our offices, despite a headcount increase.

    5. The reported general waste figure is expected to increase significantly in 2020, as our data collection efforts increase.

    * Includes permanent and temporary employees.

     

    Assessment parameters

    Consolidation approach: Operational control

    Emission factor data source: DEFRA (2018), IEA, eGRID (for New York electricity) and Eskom (for South Africa electricity)

    Intensity ratio: Emissions per average headcount, emissions per office space m2

    Independent assurance: Limited assurance provided by KPMG for the years ended: 31 March 2018 and 31 March 2019

    Coverage: Coverage of environmental information covers > 95% of our business operations. Materiality set at 5%

Learn more about our direct operational impact in South Africa

Learn more about our direct operational impact in the UK

Download our 2019 corporate sustainability and ESG supplementary report

2019 full report

Corporate sustainability and ESG supplementary report 2019

2019 report chapters

Corporate sustainability at Investec
Commitment to our people
Commitment to our communities
Commitment to the environment and climate change
Our business impact
Governance, risk and compliance
Appendix (Global Reporting Initiative Index)