Our sustainability commitments
Delivering on our vision of an unrivalled experience for our clients, employees and society, we are continuing on our drive to create positive impact through four focused goals by 2026.
As at July 2023
Our commitment: 30% reduction in CO2 in SAA
Alongside our work to decarbonise the Strategic Asset Allocation (SAA), we also have a medium-term tactical position that invests in companies tackling the broader issues of climate change within society.
The investments are not simply focused on renewable energy, but also include companies that are decarbonising their business models or developing products to help improve consumption habits. Solutions in these areas are vital if we are to fight climate change and keep global warming below 2°C.
We initiated this position in 2021 and increased the position further in Q1 this year on the back of regulatory developments that support the original investment case. We believe that the introduction of the Inflation Reduction Act in the US last year will supercharge investment in this area and increase opportunities.
Our commitment: 20% reduction in Scope 1,2 & 3* CO2 and carbon neutral from 2021
We have recently consolidated our two Edinburgh offices into one, with a renovation project taking place to update the office environment. During the renovations, we consciously reused furniture from our other office sites, and introduced additional recycling initiatives.
In August, we’re also moving to a new office in London, an A-rated facility in terms of energy efficiency (EPC).
Finally, we’re carbon-offsetting our 2022 carbon emissions and continuing to support the World Land Trust – specifically the World Land Trust local partner FUNDAECO, which protects critically threatened tropical forest through its REDD+ Project for Caribbean Guatemala: The Conservation Coast. 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.
*Scope 1 covers direct emissions, scope 2 covers indirect emissions and scope 3 are emissions associated with the company but not produced by the company itself.
An inclusive team
Our commitment: Achieve a diverse and equitable employee base
Over the last six months, we’ve made significant progress in achieving our gender pay gap target of 12%, currently at 12.5%.
We've promoted 33 women and welcomed two as partners. To nurture the talent within the firm, we've created resources to support and bolster conversations around growth and development.
Performance reviews now focus on career development with personalised plans, and we have formalised external training, as well as launching our internal 7IM academy to focus on growing internal talent.
Our journey to becoming a family-Friendly Employer is continuing as we introduced a fertility treatment policy and increased maternity and paternity pay for our colleagues.
Finally, we won the "Best Diversity & Inclusion Initiative" award at the City of London Wealth Management Awards.
Our commitment: Support charities aiming to reduce inequalities
The Charity Committee are supporting two charities chosen by our 7IM Community this year: Under One Sky (London) and Rowan Alba (Edinburgh), two small charities aiming to help reduce homelessness and improve the lives of those living on the streets. Both charities are close to the hearts of some of the employees of our network. We have been fundraising for these and many other charities through employee initiatives such as bake sales, endurance runs and quiz nights.
We are committed to giving our colleagues more opportunities to give back by promoting Give as You Earn Schemes and Volunteering days.
Our committee has been growing rapidly (now at 17 members) with active members from all office locations, including representation from PWM and our Edinburgh office.