Consultancy Broadstone has committed to set near-term company-wide emissions through the Science Based Targets initiative (SBTi).
Broadstone says that makes it the first pensions consultancy of its peer group to join the SBTi, and to set near-term company-wide carbon emission reductions in line with the climate science.
Broadstone has submitted its targets for approval by the SBTi.
Founded in 2015, the SBTi is an alliance between the Carbon Disclosure Project (CDP), UN Global Compact, WRI, and WWF. More than 1,000 companies have joined SBTi to work towards science-based climate goals.
The commitment means Broadstone joins the global movement for corporate decarbonisation in recognition of the need for climate action.
Some climate science says that it is still possible to limit global temperature rises to 1.5°C but that deep emission cuts are crucial – with the need to halve global emissions by 2030 and reach net-zero by 2050.
The commitments follow the wider change agenda outlined in Broadstone’s Sustainability Policy.
As well as reducing carbon emissions, Broadstone also aims to deliver on a range of sustainability targets covering its colleagues and the operations of the business.
As part of that programme, Broadstone was awarded a gold assessment by Investors In Customers (covering both customer experience and employee engagement), developed an ESG metric to help employers score how their benefits package measures up against ESG principles and launched the Broadstone Advantage to articulate what makes working for Broadstone different.
Tony Gusmao, CEO of Broadstone, said: “Broadstone’s mission is to empower people’s prosperity.
“To achieve this, we must ensure we can deliver sustainable outcomes for our clients, our colleagues and our environment.
“These commitments demonstrate our urgent desire to turn this into action.”
Matthew Downey, investment consultant and Broadstone sustainability lead, said: “The near-term SBTi pledges we have made demonstrate Broadstone’s commitment to leading the pension consultancy sector in delivering sustainable change.
“By measuring, offsetting and cutting our emissions we can take meaningful action to reduce our impact on the society and environment we live in.”