Tilney Smith and Williamson has announced its commitment to achieve ‘net-zero’ greenhouse gas emissions in its corporate operational footprint in support of the goals of the Paris Agreement.
The Paris Agreement aims to limit the rise in global temperature to well below 2°C (preferably 1.5°) above pre-industrial levels. To achieve this goal, global greenhouse gas emissions need to fall by half by 2030, and to reach Net-Zero no later than 2050 according to the Intergovernmental Panel on Climate Change (IPCC).
According to the firm, work towards achieving net-zero is “ongoing” and being overseen by the group’s Corporate Responsibility Committee. The group is working with an international climate consultancy to support it in the development of a “sustainable roadmap” with science-based targets and a credible transition plan for achieving net-zero corporate emissions.
Following this, the group intends to register with the Carbon Disclosure Project (CDP) as a self-selected company by 31 December 2022.
Tilney is also “strongly” supportive of the Task Force for Climate-Related Disclosures (TCFD) reporting framework. It aims to publish its first report in line with TCFD recommended disclosures in 2022, with some initial disclosures in the Annual Report for the year ended 31 December 2021.
Chris Woodhouse, chief executive, said: “We have a longstanding presence in managing sustainable investment portfolios for clients and have integrated ESG considerations into our overall investment process. We have also been seeking to enhance the environmental footprint of the business as part of our wider corporate responsibility agenda.
“As we seek to shift the business to achieve net-zero on our corporate operational footprint as soon as possible, we will embrace transparent and enhanced reporting so that our stakeholders can measure our progress on this important journey.”