Global investment manager Schroders announced today that it has reached its goal to source 100% renewable electricity for its global operations.
The shift to clean energy forms one of Schroders key operational climate goals, which include targets to increase sourcing of renewable electricity to 100% by 2025, reducing absolute Scope 1 and 2 emissions by 46% and business travel emissions by 50% by 2030, on a 2019 basis, and having 67% of suppliers with science-based targets by 2026. Schroders has also set an ambition to achieve net zero by 2050 or sooner.
The firm said that it achieved the renewable electricity milestone during 2024, beating its 2025 target date by a year. The accomplishment relates to Schroders’ more than 70 global owned and leased offices, which account for approximately 80% of the firm’s operational greenhouse gas emissions.
Schroders said that the achievement was supported by its completion of the installation of more than 2,600 solar panels last year at its Horsham Campus, expected to generate around 1.13 GWh per year. The solar installation meets nearly a quarter of the site’s annual electricity needs, and also 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.”
