Environmental efficiency 2011.


Reducing our impacts and addressing climate change

The physical environment has a significant influence upon how we do business as a financial services company in two ways

  1. How we provide our customers with products that mitigate climate related risks in the design of our products and services
  2. How we consider the use of natural resources to run our own business.

Natural resources used to run our business in 2011/12

Traditionally we’ve collected our environmental data by calendar year, but because of new legislation we’ve decided to consolidate our environmental data collection to run from April to April. This report therefore updates the information provided in April 2012 and includes our environmental performance from April 2011 to April 2012.

At Legal & General, we have a strong commitment to the environment and high expectations of our employees. This is set out in our Group Environmental Policy statement. We recognise that our operations impact the environment:

  • directly, through our buildings and business travel in the UK and overseas
  • indirectly, through our investment assets
  • indirectly through our supply chain

We’ve measured our direct environmental impacts for over ten years, focusing on energy, transport, water and waste, as well as addressing the risks and opportunities associated with climate change.

To do this, we operate four certified Environmental Management Systems (EMS) covering the areas where we can make a difference:

We were one of the first financial services companies to become certified to ISO 14001 and this programme has expanded to cover our supply chain and property investments. We don’t offset our impacts or make claims of ‘carbon neutrality’: our priority is to actually reduce our impacts.

During 2011 there were no environmental incidents as a result of our operations.

HOW WE BENCHMARK OUR PERFORMANCE

We use benchmarking to measure our performance and report it through our environmental data sheet. Externally, our environmental management is recognised through:

  • Business in the Community Corporate Responsibility Index Platinum Rating
  • Membership of the Dow Jones World and European Sustainability Indices
  • Founding signatories and respondents to the Carbon Disclosure Project
  • Founding members of ClimateWise, facilitated by the University of Cambridge Programme for Sustainability Leadership.

CLIMATE CHANGE

Climate change affects many parts of our business – from health to commercial property assets to impacts on our customers’ investment holdings.

We are on the managing committee of ClimateWise, the insurance sector collaboration, which gives us the chance to talk to policymakers about business, investment and climate change.

Each year we’re rated against the ClimateWise reporting principles to show how we’ve integrated these into our business. In 2011 Legal & General was rated at 99%, which was up 5% on our 2010 performance.

(Download PDF:) Read the ClimateWise review (PDF) 0.2 MB

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