Barings Announces 2030 Net Zero Target for Global Operations
PR90545
CHARLOTTE, N.C., July 14, 2021 /PRNewswire=KYODO JBN/--
- On track to achieve operational carbon neutrality in 2021
Barings, one of the world's leading investment managers, today announced it
would achieve net zero greenhouse gas (GHG) emissions in operations by 2030,
with plans to fully offset emissions beginning in 2021 and implement reduction
programs over the remaining period. Barings also unveiled key steps in its
roadmap to long-term sustainability.
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"Helping build a sustainable future in service to our clients, colleagues and
communities is core to our mission and good for the long-term growth and
profitability of our business," said Mike Freno, Barings Chairman and CEO.
Barings has been committed to achieving environmental and social operational
targets for many years. With this announcement, it is setting out the path to
achieve net zero in its global operations by 2030.
"While we will need to utilize carbon offsets to achieve neutrality in 2021,
our true focus is on changing the behaviors of our employees and partners that
will allow us to achieve our net zero target," said Sarah Munday, Barings
Director of Sustainability. "For instance, we intend to set an internal tax on
carbon for air travel by the third quarter of this year and hope to expand that
to other carbon generating areas of our business in the coming years."
Munday said Barings embraces transparency as a core value and will publish
progress on its journey to Net Zero, working from a 2019 baseline of 21,688
tons of GHG overall or 10.83 tons per employee. "Only through rigorous
measurement and reporting will we achieve accountability that drives real
change," she said.
Other milestones on the road to reduction include moving all facilities which
we manage to renewable energy sources, targeting 100% reduction in Scope 1 and
2 emissions by 2022.
Progress towards its GHG reduction targets will be tracked and communicated
through annual, public reporting aligned with global reporting standards. The
company's commitments were developed in coordination with parent company
MassMutual, which published its Net Zero targets earlier this year, and align
with Article 4.9 of the Paris Agreement. Barings is working actively to support
MassMutual's climate commitments of being operational net zero by 2030 and GIA
net zero by 2050.
Barings has been a signatory of the UN's Principles for Responsible Investment
(PRI) since 2014, a member of Climate Action 100+ since 2019, and is a public
supporter of the TCFD and member of the UN Global Compact.
These commitments expand upon the company's existing sustainability activities.
For instance, Barings Global Technology and Operations team has already reduced
the firm's European data center footprint by 74% and the Barings London office
operates on 100% renewable energy and green gas. In addition:
-- Barings' London office was awarded the IWFM Positive Climate Action
award in 2020 for their evidence-based application, showcasing 11
environmentally impactful initiatives that had been implemented since
moving into the 20 Old Bailey office space in 2018. The office received
a BREEAM Excellent rating for both the pre-design and fit-out stages of
the construction process and was awarded ISO 14001 certification
in 2021.
-- In New York city, Barings' office building at 340 Madison is Energy
Star and Fitwel certified, and was the recipient of the 2021 Fitwel
Best in Building Health award.
-- Barings global headquarters in Charlotte, North Carolina is certified
LEED Gold for Interior Design and Construction. The building, 300 South
Tryon, is also LEED Gold Certified for Core and Shell, Energy Star
certified, and is pursuing Fitwel certification and LEED Gold for
Operations and Maintenance.
You can learn more about Barings' sustainability policy and practice at
https://www.barings.com/about-us/investing-responsibly/. You can view a video
of Barings Director of Sustainability Sarah Munday discussing Barings'
Operational Net Zero commitment at
https://www.barings.com/viewpoints/the-road-to-net-zero.
About Barings
Barings is a $326+ billion* global investment manager sourcing differentiated
opportunities and building long-term portfolios across public and private fixed
income, real estate, and specialist equity markets. With investment
professionals based in North America, Europe and Asia Pacific, the firm, a
subsidiary of MassMutual, aims to serve its clients, communities and employees,
and is committed to sustainable practices and responsible investment. Learn
more at www.barings.com.
*Assets under management as of March 31, 2021
Contact: Cheryl Krauss
Barings
+1-980-417-5858
Cheryl.Krauss@barings.com
SOURCE : Barings
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