SPW releases Responsible Business Report on Earth Day
- Joel Ripley
- 22 April 2022
- 5 mins reading time
We have launched our first Responsible Business Report on Earth Day 2022, with 22 April marking the anniversary of the birth of the modern environmental movement in 1970. We’ve done so with the ambition to be an environmental sustainability leader in the wealth management sector. And we aim to play our part in the global effort to reach net zero carbon emissions by 2050.
Our principal value is to put clients first. But we recognise we have wider stakeholders too, including our colleagues, communities, shareholders and the environment. We believe that a responsible approach to business is a modern, progressive way to balance the needs of all of our stakeholders.
In our first Responsible Business Report, we have outlined what being a responsible business means to us. We want to get the basics right, act upon them consistently and make our society, our environment and our world a better place to live in. These actions include mitigating our impact on the environment, responsibly sourcing our supplies, paying a fair living wage, treating our colleagues with dignity and respect, making a clear and transparent commitment to our customers, and paying our fair share of taxes. The report shows how we are doing this.
Our first Responsible Business Report reflects just the initial phase of our journey. Our priorities in corporate responsibility for the next 12 months include the following:
• Gain a better understanding of the environmental impact of our supply chain and develop ways to reduce this impact.
• Continue to embed our responsible business approach and achieve annual accreditation by the Good Business Charter (‘GBC’).
• Establish the SPW Charitable Foundation to promote financial inclusion across all parts of our society.
We are a young company and so are still developing our full responsible business approach. But, as you will see in the report, we have already taken some positive actions. These actions include the following:
• Offset carbon emissions since the founding of Schroders Personal Wealth in June 2019.
• Partnered with positive climate impact organisation Furthr to plant more than 100,000 mangrove trees in 2022.
• Set up a scheme to help colleagues buy electric cars.
• Ensured our Adviser Academy intake includes 50% women.
As we continue on our journey as a responsible business, our key medium-term objectives include:
• Achieve net zero carbon operations by 2030, by reducing our carbon emissions and offsetting only those unavoidable emissions.
• Implement a responsible approach to investing and stewardship in the next 12 months, following the recent launch of our new customer charter.
• Continue to actively support the #10,000BlackInterns initiative.
You can find more about our activities in the Responsible Business Report. We will continue to keep you updated about our activities and developments as we move further forward on our path of conducting business responsibly. In the meantime, we hope you find the report informative and enjoyable.
Joel Ripley is Responsible Business Network Chair at Schroders Personal Wealth
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