Substantial reduction in employee emissions achieved over the past decade.
Johannesburg landfill methane project offsets footprint and supports electricity generation.
Investec is pleased to announce that it has achieved net-zero carbon emissions and is committed to ongoing carbon neutrality.
“Taking action on climate, and publicly committing to net-zero emissions, recognises and respects the environmental limits of our planet. Being carbon neutral is vital to the fortunes of future generations and reflects the leading role Investec wants to play in the wellbeing of our communities,” said Fani Titi, Joint CEO of Investec, at an event hosted at the Investec offices in Sandton, Johannesburg in partnership with the Johannesburg Stock Exchange (JSE).
Titi and Leila Fourie, CEO of the JSE, are the only South Africans who are part of the Global Investors for Sustainable Development (GISD) Alliance – a group of 30 CEOs convened by the United Nations (UN) tasked with securing investment from the private sector to finance the Sustainable Development Goals (SDGs).
Investec is a global business with an operational footprint in both the developed and developing world. Seventy per cent of the Group’s total emissions arise in South Africa (the majority of which derive from energy consumption). As new technologies become available and greater efficiency is possible, the Group hopes to further reduce this consumption.
“Being carbon neutral is vital to the fortunes of future generations and reflects the leading role Investec wants to play in the wellbeing of our communities.”
Fani Titi, Joint CEO of Investec
Investec’s commitment to net-zero emissions is an acknowledgement of the urgency of climate change and a signal of the Group’s serious intent in making the complex transition to a cleaner world. Investec has reduced its emissions per employee by 55% over the last decade, while average headcount increased 105%.
Investec plc, the holding company for Investec’s operations outside South Africa, which are primarily located in the UK, is also one of the nine companies in the UK banking and financial services sector to sign up to the Task Force for Climate Related Disclosures (TCFD).
In South Africa, Investec has partnered with the Climate Neutral Group in support of the Joburg Waste to Energy offset project. This project captures methane from five landfills sites in Johannesburg and turns it into electricity, solving two serious issues that South Africa currently faces (waste management and electricity security). By supporting this project Investec is offsetting its footprint in a way that is measurable, while also contributing meaningfully to three* of the seventeen SDGs.
“The climate crisis and how we respond is critical to the success of our business.”
“Our priority is to avoid, then limit and minimise our direct carbon impact from our day-to-day operations, as well as create awareness to encourage positive sustainable behaviour among our stakeholders. Only then do we offset our remaining carbon emissions to ensure a net-zero carbon impact,” said Tanya dos Santos, head of Group Sustainability at Investec.
While maintaining a net-zero status is important, Investec acknowledges that more needs to be done to address the climate emergency and will continue to further reduce its historic impact through various voluntary community initiatives.
“The climate crisis and how we respond is critical to the success of our business. This is a journey and we continue to find opportunities to finance and support a cleaner, more inclusive world,” added Titi.