Schroders today reveals it reached the milestone of sourcing 100% renewable electricity for its global operations during 2024, the first time the firm has reached this target.
This landmark achievement was verified by RE100, an independent global initiative led by the Climate Group, which brings together international businesses committed to using 100% renewable electricity. This was an increase from the 98% sourced by Schroders in 2023. RE100 provides the stringent technical criteria to make renewable electricity procurement claims credible.
The 100% renewable electricity use relates to Schroders’ more than 70 global owned and leased offices, which account for approximately 80% of the firm’s operational greenhouse gas emissions.[1] This accomplishment was achieved one year before Schroders’ committed target date of 2025.
This achievement helps to reaffirm Schroders’ commitment to its operational climate strategy, which focuses on setting science-based emissions reduction targets and transitioning to low-carbon sources of energy.
The news follows the installation of 2,606 solar photovoltaic panels, expected to generate ~1.13 GWh per year, at Schroders’ Horsham Campus in 2024. The on-site solar installation meets nearly 25% of the campus’ annual power needs and includes the installation of 58 EV charging stations to support staff adoption of hybrid or electric cars.
Madeleine Cobb, Global Head of Corporate Sustainability, Schroders, said:
“We’re proud to have secured 100% of our corporate electricity supply from renewable sources in 2024, meeting our target a year ahead of schedule. Our action to decarbonise Schroders’ electricity supply, including through solar panel electricity generation at our Horsham Campus, will have a meaningful impact on our Scope 2 market-based carbon emissions and help the business reach its corporate net zero targets.”
Schroders’ commitment to a 100% renewable corporate electricity supply is part of its broader corporate sustainability programme which also includes the launch this week of its first global environmental charity partnership with Fauna & Flora, a nature conservation charity.
As part of this partnership, Schroders has committed to investing £3 million over three years with Fauna & Flora, to fund its conservation projects, supporting five initiatives working with local communities to protect and restore nature.
The partnership supports five habitat restoration and protection programmes, chosen by Schroders staff, across forests, marine and mountain environments – helping reconnect habitat corridors for chimpanzees in Uganda, conserve sea turtles in Nicaragua, strengthen marine conservation in Cambodia and Scotland, and secure wildlife corridors in Romania.
In addition to the measurable, significant local impact of supporting these projects, Fauna & Flora will support Schroders staff to learn about the challenges and wider opportunities from nature conservation, in alignment with Schroders’ corporate sustainability strategy to inspire collective action to improve inequality and protect the planet.
Fauna & Flora was chosen for its science-led approach and proven track record in protecting threatened species and habitats worldwide, and will report on agreed biodiversity indicators to Schroders to help measure success.
Commenting on the Fauna & Flora partnership, Madeleine Cobb, added:
“By supporting Fauna & Flora, Schroders is helping to protect biodiversity across five different regions. This significant £3 million investment aligns with our core sustainability values and will help protect threatened species and habitats.”
Commenting on the Fauna & Flora partnership, Kristian Teleki, CEO of Fauna & Flora said:
“Partnership is core to Fauna & Flora’s mission and we are delighted to be embarking on this new journey with Schroders, which will help bring vital investment across five key conservation projects.”