7IM has partnered with World Land Trust (WLT), in a move that has seen the firm achieve carbon neutrality for 2021.
7IM has leveraged WLT’s technology to measure and reduce its carbon footprint and has offset its unavoidable emissions through WLT’s Conservation Coast Carbon Balanced project in Guatemala. The project supports local landowners and communities in registering and obtaining land titles to protect threatened areas of coastal forest, for the benefit of the region’s incredible biodiversity.
7IM’s support of the project will assist in protecting natural habitats, reducing emissions, avoiding deforestation, as well as improving access to healthcare and supporting young women in completing their education.
Verona Kenny, Managing Director of Intermediary at 7IM, said: “7IM, as a company, has always put sustainability as a priority, and so we are pleased to partner with World Land Trust to both offset our CO2 footprint for 2021 and support conservation through its Carbon Balanced programme.”
This latest announcement underlines 7IM’s commitment to one of its key sustainability goals, a 20% reduction in scope 1, 2 and 3 CO2 emissions, while supporting our commitment to begin reaching carbon neutrality from 2021.
Other commitments include a 30% reduction of CO2 in Strategic Asset Allocation (SAA), achieving a diverse and equitable employee base, as well as offering support to charities aiming to reduce inequalities. The first phase of this commitment kicked off last year, when we assessed and made changes to our US equity exposure to reduce CO2 in our SAA. The second phase is due to start later this year, when we look to reduce our CO2 exposure further by reassessing our holdings in another asset class.
Alongside this latest announcement, 7IM has also recently become a signatory of the UK Stewardship Code. As a signatory, 7IM is held accountable by the Financial Reporting Council to meet sustainability-related regulation requirements, as are other signatories. Earlier this year, 7IM also signed the CDP’s 2022 disclosure request, promoting corporate environmental transparency across climate change, water and forests.
Kenny continued: “As many organisations look to reach their net-zero targets, we hope this partnership, as well as our various other sustainable projects, will drive 7IM forward as an environmentally-conscious firm and underline our commitment to reducing carbon emissions and environmental preservation.”