LCP commits to operational net zero from 2021

LCP has announced it will become operationally net zero this year, with the firm utilising carbon offsets to achieve the goal in the short term.

The firm said it had focused on making its business more environmentally friendly in a number of ways, including incorporating solar panels in its offices, and monitoring and reducing energy usage, business travel and waste.

Additionally, LCP noted that its corporate social responsibility team, operations team and Green Champions network had led initiatives to promote environmentally friendly office practices and ensure third-party relationships are as green as possible.

It noted that these measures had already contributed to “significant reductions in both direct and indirect emissions”.

Going forward, LCP said it would seek further methods for achieving genuine reductions, while utilising fully certified and high-quality carbon offset schemes to achieve net zero immediately, with the aim of reducing the reliance on offsets in the future.

The firm also committed to using its influence and knowledge to support clients in their own sustainability goals, adding that it was working with investment managers to develop new investment products to meet climate-related and sustainable investment objectives, and had played an active role in the development of guidance on climate change for pension scheme trustees.

LCP CEO, Aaron Punwani, commented: “Setting commitments to run our business in a responsible, sustainable way, both internally and externally, is really important to us. Success for us is about much more than growth and income; it’s about building our business with the best interests of our people, clients, communities, and the environment always front of mind.

“It’s clear that now is the critical time for businesses to step up in achieving our UK and global climate goals. We see ourselves as part of the solution and LCP’s promise is to put sustainability at the heart of how we operate, and how we support, serve and inspire our clients.”

LCP partner and head of CSR, Kate Sinclair, said: “We will continue to reduce our carbon footprint by integrating renewable energy sources into our energy mix, reducing travel, and encouraging new ways of working. We plan to reduce our reliance on offsets and are building a robust long-term roadmap to reduce our emissions.”

LCP head of investment, Clay Lambiotte, commented: “We recognise that our impact and responsibility extends well beyond our own business. With over £400bn in assets under advice, we have an opportunity to influence change on a much greater scale.

“Net zero is ultimately about protecting everyone’s future, so working together with our clients and their investment managers is a critical part of our plan.”

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