Environment
Doing the right thing is the bedrock of our responsible and sustainable approach to business as well as a fundamental aspect of our culture. Protecting our environment, both globally and locally is important to XPS and forms the basis of our environmental ambitions and strategy.
Whilst as a professional services business, our environmental impact can seem insignificant in comparison to businesses in other industries, XPS remains resolute in our ambition to deliver high quality pensions services that do not come at a cost to the environment. As a member of the FTSE 250 we acknowledge our responsibility not just to cultivating a green internal culture but to developing the same within our clients, supply chain and the members we serve.
Committing to net zero
XPS is committed to operating in a manner consistent with delivering Net Zero, the international objective for mitigating the severe impacts of climate change in the future. As a private sector business, we recognise the part we have to play, reducing our emissions significantly and promoting change in our industry. In 2023 we officially committed to the Science Based targets Initiative whilst we develop our net zero strategy. The group have set ambitious interim objectives to halve direct operational emissions and source 100% renewable electricity by 2030, as well as longer term targets to retire all gas heating in facilities, send zero waste to landfill and reduce waste generation in general. We believe making the moral choices today will not only benefit the planet but offer long-term cost-saving opportunities and the potential to attract new client prospects. XPS are anticipating submitting our formal transition plan to the Science Based Targets before 2026.
Achieving carbon neutral status
Our net zero strategy sets XPS on an ambitious long-term trajectory however, we appreciate the need for rapid decarbonisation and action today. That is why XPS has once more achieved carbon neutrality across all scopes of emissions including those relating to our supply chain, business travel, staff commute and remote working arrangements.
It's important to XPS that any carbon offsetting exercise is credible, tangible, and beneficial. The business chose to quantify emissions in accordance with principles defined by respected industry frameworks such as the GHG Protocol, Streamlined Energy and Carbon Reporting and the Science Based Targets Initiative to assure credibility and improve carbon accounting accuracy.
XPS sourced high-quality carbon credits from respected and certified carbon credit trading platform Gold Standard. Notably, XPS chose to invest in clean energy and sustainable biofuel schemes in Europe and Africa respectively. It is important to XPS that these offsets make a real impact within the community, improving the local environment, offering work opportunities to local people, and promoting sustainable habits, all whilst delivering the carbon reductions associated with carbon credits.
Offsets cannot deliver the group’s net zero strategy however, we are proud to support less privileged communities whilst improving the global environment and taking responsibility for our actions.
Building an environmentally friendly culture
Our employees are vital to helping us achieve our goals. We have developed an Environmental Management System which, as well as providing a framework for us to monitor, manage and ultimately reduce our environmental impact, helps raise internal awareness and engagement. Regular green initiatives, training videos, a dedicated Environmental intranet page, and the appointment of Environmental Champions in each office – all are focused on raising awareness of our policies and fostering an environmentally friendly culture.
Getting green locally
In 2023 the internal environmental committee known as the XPS Planet Group organised its first 3 volunteering days in areas local to our Birmingham, Belfast and Reading offices. Promoting environmental awareness, team building and local pride, our events were well received by our participants who tried their hand at coppicing, beach cleanups, hedge building, invasive plant species curtailment and even some fence building.
The XPS Planet Group is planning further events with the support of the group’s top management and EMS program.
By working together, we can help drive positive environmental change.
Case study: Sustainable refurbishment of our Strand office
When the XPS office at 11 Strand streamlined from two floors to one during the pandemic, it was the perfect opportunity for a makeover.