Environment

3i has fewer than 250 employees worldwide and has a relatively low environmental impact. We operate from a network of nine offices across the world, however approximately two-thirds of our employees are based in our London office. All our offices are leased.

We are, nevertheless, committed to minimising our environmental impact and to improving our environmental performance wherever possible. We have an Environmental Management System (‘EMS’) that is proportionate to the operational scale and environmental risk profile of our business.

Our strategy is to:

  • meet the requirements of applicable environmental legislation;
  • minimise waste and maximise recycling;
  • work with our landlords to ensure the energy efficiency of our offices;
  • include environmental considerations in our procurement processes;
  • measure our carbon footprint annually, and publish the results in our reports and on our website; and
  • report to two external publicly disclosed benchmarking indices and use our performance in these benchmarking indices to assess and improve future performance; this year we have chosen the CDP and the RobecoSam Dow Jones Sustainability Index.

Whilst our direct environmental impact is small, our materiality assessment and associated stakeholder engagement identified that the integration of environmental issues into our investment processes is important.

During the year to 31 March 2017, our measured Scope 1 and 2 greenhouse gas (‘GHG’) emissions (location-based) totalled 959.8 tCO2e. Our Scope 3 emissions totalled 3,027.2 tCO2e.

Scope FY16/17 FY15/16 Year-on-year change
1 (tCO2e) 191.0 252.4 -24%
2 Location-based (tCO2e) 768.8 854.2 -10%
2 Market-based1 (tCO2e) 174.8 544.4 -68%
3 (tCO2e) 3,027.2 3,180.9 -5%

1 Emissions from the consumption of electricity outside the UK and emissions from purchased electricity calculated using the market-based approach using supplier-specific emission factors are reported in tCO2 rather than tCO2e due to the availability of emissions factors.

Our Scope 1 and 2 (location-based) emissions are equivalent to 3.4 tCO2e per full-time equivalent employee, based on an average of 281 employees during the year (2016: 4.0 tCO2e; 276 employees). Overall our Scope 1 and 2 (location-based) emissions decreased by 13% in the year driven principally by a cleaner fuel mix in electricity generation in the UK. We have also chosen to report voluntarily on our Scope 3 indirect emissions, which were 5% lower in the year due to a decrease in business travel. The methodology is described in our Corporate responsibility report.

Our emissions have been verified by Carbon Credentials Energy Services Ltd according to the ISO 14064-3 standard.

Environment

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