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Supporting our environment

It is now widely recognised that financial services companies have an important part to play in supporting the transition to a carbon neutral economy and addressing the risks posed by climate change. Close Brothers takes these challenges very seriously, and we work to limit the impact of our operations on the environment and to take actions that make a positive contribution to the world around us.
Our green energy lending business has been a leading provider of finance to the renewable energy sector for a number of years, supporting schemes for wind, solar and hydro power developments. We are also aware of our responsibility to protect natural resources and act sustainably, and continue to monitor ways to lower our energy consumption, reduce emissions and increase recycling.

Our environmental strategy

Our internal Environmental Policy outlines our approach and commitments to managing our environmental sustainability. Our commitments under this policy include:

  • Compliance with all environmental legislation and codes of practice throughout the different areas we operate in and, where possible, demonstrate best practice in environmental stewardship;
  • Continue to monitor and report on our environmental footprint both internally and externally;
  • Reduce our direct environmental impact from our operations through the introduction of various initiatives related to waste reduction and management, and our use of transport, energy and water;
  • Minimise unnecessary consumption, improve rates of recycling and promote the use of recycled materials wherever possible;
  • In particular, we will focus on energy efficiency, the purchase of renewable energy and the reduction of emissions from our fleet vehicles;
  • Over the longer term aim to reduce our indirect environmental impact by working with our value chain and promoting efficient and responsible behaviour from both our customers and suppliers; and
  • Raise awareness of environmental issues and promote responsible behaviour amongst our employees by engaging them through our “Green Team” of employee representatives, undertaking group wide initiatives and activities, and regularly conducting staff environmental surveys.

Our environmental impact

We direct each of our businesses to manage their resources and recycling locally and work closely with all of the locations we operate in to identify new and additional ways to reduce energy use. Waste recycling is encouraged in all our offices, and our head office uses a waste contractor that ensures zero waste goes to landfill.

We also continue to participate in the CDP (formerly the “Carbon Disclosure Project”), which allows us to disclose our greenhouse gas emissions and our approach to managing climate related impact on a voluntary basis.

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Reducing our emissions

Our Scope 1 fuel emissions from company vehicles continue to fall, and reflects a significant and sustained improvement from an increase in the number of more fuel efficient and alternative fuel vehicles such as plug in hybrids, which have been added to our vehicle fleet.

Our Scope 2 electricity consumption is our largest source of GHG emissions but continues to reduce on previous years, which demonstrates our ongoing commitment to improving the energy efficiency of our offices.

Reduction in scope 1 fuel (owned vehicles)

14%

Reduction in scope 2 electricity

17%

GHG scope 1 and 2 emissions by division (tCO2e)

GHG emissions (tCO2e)

In 2019, our total GHG emissions were 4,414 tonnes of carbon dioxide equivalent (“tCO2e”), equating to 1.29 tCO2e per employee, down 12% overall and 16% per employee since 2018.

1. 2019 figures for Scope 1 Fuel (Buildings) now reflect improved data collection for non-head office locations.

2. 2018 figures for Fuel (Owned vehicles) and Electricity re-presented to reflect updated figures.

Note: Our total GHG emissions are reported as tCO2e and are calculated in line with the GHG Protocol framework.