Man Group

Sector: Corporate

Employees:

> Over 4,000 employees in 16 countries. 

Carbon Footprint:

> 14,864 metric tonnes CO₂e (2006). 

TARGETS

> Achieve carbon neutral status in 2007
> Encourage employees and their families to become carbon neutral; incentives include a matching contribution to the cost of family carbon offsets.

Achievements

> A 24% reduction in CO₂ emissions per square metre of usable floor space between 2005 and 2006.
> A 21% reduction in overall CO₂ emissions per employee (from 4,690 kg (2005) to 3,716 kg (2006)) attributed primarily to implementation of a ‘green’ electricity tariff for the London head office.

Benefits

Low Carbon Solutions

Background

One of the world’s largest futures brokers, Man Group plc is a global leader in the provision of alternative investment products and solutions. Man Group is primarily based in London, Pfäffikon (Switzerland), Chicago and New York. The Group is comprised of Man Investments, the Asset Management division, and Man Financial, the Brokerage division. The Group’s underlying pre-tax profits surpassed $1 billion for the first time in 2005. In 2006, chief executive Stanley Fink announced the Group’s plans to become carbon neutral in 2007. 

> Internally, a series of interactive carbon workshops are underway to guide staff in how to reduce energy consumption in the home and workplace. Staff are also offered discounted home environmental surveys and a subsidy on becoming carbon neutral.

> Man Group has launched a ‘switch it off where practical’ policy to encourage employees to reduce unnecessary energy use.
> In the main London Head Office, the Group has installed two Combined Heat and Power (CHP) units, in addition to new air conditioning chiller machinery that is based on ‘Ice Bank’ technology, in which off-peak renewable electricity is used overnight to create ice which is then used to supplement daytime cooling.

Man Group is actively pursuing a number of management strategies in its goal of achieving carbon neural status in 2007.
> The Group will be offsetting its 2006 global emissions through CERs Gold Standard. In addition they will be offsetting a further 50% through forestry based VERs from African projects which have a demonstrable and positive impact on poverty alleviation.
> The company has also offset the emissions created by the production of the 2006 Annual Report, Corporate Sustainability Reports, and all other paper usage.

> Man Group has linked up with the Royal Society for the Protection of Birds (RSPB) and is providing staff with joint branded literature to engage families with younger children.
> It has also sponsored the Business in the Community International Climate Change Award 2007.

> The Group has arranged to pay an annual premium to switch to a ‘green’ electricity tariff in its London head office to offset CO₂ emissions from electricity consumption.

In 2006, the Group established an Environment policy designed to encourage continuous improvement of the Group’s environmental performance. Policy targets include:
> enhancing data collection and reporting by expanding CO₂ monitoring programmes;
> considering environmental issues during resource and service procurement; and
> raising awareness of environmental issues among employees and supporting their involvement in improving the Group’s environmental performance.
> To specifically address its carbon neutral goal, the Group is commissioning a company-wide GHG emission assessment.

> Man Group promotes increased use of video-conferencing technologies as an alternative to travel.
> It also encourages employees to utilise public transportation by offering them free railway season ticket loans.

> The Group has expanded its UK recycling facilities.
> The Group also participates in a food composting scheme run by the Local Authority.