Environmental sustainability

Find out how we're working to become a more sustainable organisation.

We're committed to becoming a more sustainable organisation and supporting the UK’s transition towards a net zero economy by 2050. This is now part of our remit, following the Chancellor’s recommendations in March 2021.

Our approach

As part of our focus on developing our environment, social and governance (ESG) approach, we appointed our first Director of ESG in August 2021.

We also published our first climate-related financial disclosure report in July 2022. The report is aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and outlines the risks and opportunities from climate change that are relevant to our activities. 

It also covers the steps we’re taking to strengthen our understanding of these risks and opportunities, and the actions we’re taking in response.

Our offices

Environmental sustainability was integrated into the construction of our head office in Stratford, which we’ve occupied since 2018. We were awarded the BREEAM rating of 'Excellent' for this project, which is only awarded to 10% of non-residential buildings in the UK. 

Our building uses efficient heating and cooling technologies, which help to cut our carbon footprint as well as reduce costs.

In our Edinburgh office, we've started monitoring utilities and the impact of greenhouse gas emissions.

Operations

As a regulator, we aim to model good behaviours in everything we do, including minimising our impact on the environment. 

This impact is relatively small compared with many large financial services firms that often have numerous operations, across many jurisdictions. But as a responsible business, we're committed to minimising our environmental footprint.

We focus our efforts on the areas where we can make the biggest impact, such as:

  • energy
  • emissions
  • water usage
  • minimisation of waste 
  • recycling and paper use
  • business travel
  • ICT and digital services

But we also focus on procurement and the suppliers and contractors we work with.

Our Environmental Policy Statement (EPS) and the Environmental Management System (EMS) provide the main framework for achieving environmental sustainability in our operations. 

Our EMS is compliant and certified with the ISO 14001 standard. Achieving this standard needs the collaboration of our people adopting environmentally sound practices, our contractors supporting our environmental policy and processes, and the commitment of our management. 

Find out more about the targets and metrics we use to measure our progress.

Procurement

Procurement is an important part of delivering sustainability. We rely on our suppliers to help us deliver our objectives and we expect them to align with our values and support our mission to add public value.

Suppliers are guided by the Supplier Code of Conduct and must comply with our internal policies and procedures, including the Environmental Policy and the EMS.

Annual Sustainability Report

The Annual Sustainability Report is included in our Annual Report.

It provides an overview of our environmental performance in line with the Treasury’s guidance on sustainability reporting in the public sector.

Page updates

22/07/2022: Link added to our targets and metrics.
19/07/2022: Link added to report on climate related financial disclosure 2021/22.
19/07/2022: Editorial amendment General page updates.
04/11/2021: Information changed General page updates.