At P1 Investment Management Ltd we appreciate the risks that climate change presents, including rising sea levels, extreme weather and flooding events, resulting in damage, loss of life, and disruption to food and fresh water supplies (link: Exploring ethical and sustainable investing). Carbon emissions play a major role in climate change, however current reduction efforts may prove insufficient to meet the UN FCCC intended aims of holding the increase in global average temperatures well below 2°C above pre-industrial levels while pursuing efforts to limit increases to 1.5°C above pre-industrial levels (link: Ethical Investors target carbon neutrality).
At P1 Investment Management we have an ultimate goal of becoming carbon-neutral. We recognise that this will be a longer term project, however as a first step we have estimated and offset the carbon-emissions generated by our staff during their daily commutes to and from work.
To do this we commenced by looking at the distance travelled by each member of staff and the transport they used (train, bicycle, car – petrol or diesel etc.), calculating the estimated total carbon emissions for each over a full year. This led us to a combined total of 14.6 tonnes of carbon-dioxide equivalent over the year.
We then used Carbon Footprint Ltd (www.carbonfootprint.com) to offset 15 tonnes of carbon-dioxide equivalent through their Verified Carbon Standard projects. In addition to offsetting the carbon, we also selected a scheme that plants additional trees in the South West of the UK to help enhance our local environment. As we were investigating carbon-offsetting, Dr Quintin Rayer, our Head of Research and Ethical Investing, also offset a further 2 tonnes CO2e at an earlier stage, meaning that in 2017, P1 Investment Management has offset 17 tonnes of carbon-dioxide equivalent and planted 17 trees in the South West UK.
You can see our carbon offset certificates below: