Environment
Doing the right thing is the bedrock of our responsible and sustainable approach to business as well as a fundamental aspect of our culture. Protecting our environment, both globally and locally is important to XPS and forms the basis of our environmental ambitions and strategy.
Whilst as a professional services business, our environmental impact can seem insignificant in comparison to businesses in other industries, XPS remains resolute in our ambition to deliver high quality pensions services that do not come at a cost to the environment. As a member of the FTSE 250 we acknowledge our responsibility not just to cultivating a green internal culture but to developing the same within our clients, supply chain and the members we serve.
Committing to net zero
We are committed to achieving net zero and we officially submitted our near-term carbon reduction targets to the Science Based Targets Initiative in 2025, pending verification. Our carbon reduction targets are accompanied by our formal carbon transition plan to support us on our journey to zero emissions by 2050.
Our current transition plan includes ambitious objectives to source 100% renewable energy by 2050, rely on 100% low carbon heat sources by 2035 and transitioning to 100% low energy lighting by 2027.
We recognise that we can’t achieve net zero in isolation, and we work with our peers and value chain to further progress the agenda throughout our industry with a proactive and collaborative approach to net zero.
Leave no one behind
Our commitment to protecting the environment doesn’t stop at our threshold and we are committed to having a positive environmental impact both at home and abroad. Since 2021 XPS have invested in a number of international projects that support the global net zero objective and our sustainability ambitions. We want be certain that our investments deliver upon our commitments and we ensure every project selected is externally assured and can achieve real, tangible benefits to our planet and communities.
We focus our investments on projects within communities and habitats most at risk of human activity, climate change and environmental harm and look to protect those disproportionately affected. Our projects aim to improve local access to resources, work, energy and sustainable practices. To date we have supported clean energy initiatives in Chile, India and Turkey, a rainforest conservation, biodiversity and reforestation project in Panama, a clean development backed biofuel project in Ghana and a Rwandan clean cooking scheme that aims to address the environmental and health impact of open fire cooking in certain regions.
We believe by advocating for better environmental conditions and practices on a global scale we can accelerate the global net zero and sustainability agenda whilst achieving tangible worldwide benefits for our fellow man.
Building an environmentally friendly culture
We foster an environmentally friendly culture at XPS and our people have an important role to play in the green revolution within our business. We want to make it easy for our people to get involved with the environmental movement and we provide a number of resources to aid them in their efforts at work, including our electric vehicle, tree planting, cycle to work and charitable salary sacrifice schemes. This is supported by our office design including bike storage space, showers and electric vehicle charging facilities.
The XPS Planet Network, our environmentally focussed employee forum, provides a dedicated space to discuss environmental matters. The network looks to educate and inform our colleagues whilst offering a space to share constructive ideas and feedback. The Network not only facilitates a free and open dialogue with our people but also plays integral part of our continual improvement program.
Getting green locally
We value strong genuine ties to our environment and local communities and encourage the same within our internal culture. Each year our environmental champions, in collaboration with our employee engagement team, organise green volunteering events across the group that provide an opportunity for our people to reconnect with nature and help local environmental protection, conservation and preservation projects in their community.
Environmentally conscious spaces
As part of our commitment to support sustainability within our offices we embed “circular economic” principles within our selection of suppliers, choice of furniture and use of equipment in our offices. We prioritise products and services that minimise resource depletion, pollution and waste opting for ecofriendly solutions that champion our reuse, repair and recycle ethos. Our property criteria actively promotes best in class building selection and we advocate the same within our peer group.
Case study: Sustainable refurbishment of our Strand office
When the XPS office at 11 Strand streamlined from two floors to one during the pandemic, it was the perfect opportunity for a makeover.
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