Tilney Smith & Williamson, the leading integrated UK wealth management and professional services group, announces 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 (GHG’s) 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).
Work towards achieving Tilney Smith & Williamson’s goal of becoming a ‘Net-Zero’ business with regards to its corporate operational footprint 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 intend to register with the Carbon Disclosure Project (CDP) as a self-selected company by 31 December 2022.
Tilney Smith & Williamson is 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.
The Group intends to report on its GHG emissions, including limited Scope 3 emissions. It is working towards expanding its assessment of Scope 3 emissions, including Assets Under Management (the ‘financed emissions’ from the investment portfolios it manages) and will report on these as soon as possible.
Chris Woodhouse, Chief Executive, commented:
“As a leading wealth management and professional services firm, entrusted with the stewardship of over £56 billion of assets and with over 165,000 clients, Tilney Smith & Williamson is determined to step up and play our part in tackling the challenge of climate change.
“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.”