Rothesay Commits to Net Zero, Enhances ESG Reporting

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by KnowESG
KnowESG_Rothesay Commits to Net Zero, Enhances ESG Reporting
Image courtesy of https://www.professionalpensions.com/

Rothesay, a prominent UK pensions insurance specialist, has released its annual Environmental, Social, and Governance (ESG) reports, introducing a Sustainability Report and a Climate Report aligned with the Task Force on Climate-related Financial Disclosures.

This marks a significant step in the company's commitment to ESG principles. Key achievements highlighted in the reports include:

  • Achieved a remarkable 13% reduction in the Carbon Intensity (CI) of its £47 billion investment portfolio since 2020.

  • Pledged to reduce the CI of the corporate bond investment portfolio by 50% by 2030, showcasing a new commitment to sustainability.

  • Invested £13.8 billion in sustainable projects such as social housing, education, healthcare, and sustainable transport assets, aligning with the United Nations Sustainable Development Goals and emphasising social value.

  • Became a signatory to the Financial Reporting Council’s UK Stewardship Code, emphasising responsible stewardship of investments.

  • Maintained CarbonNeutral® status for its own operations, demonstrating a continued commitment to environmental responsibility.

  • Donated £5.6 million to charitable causes, including partnerships with Iceland Foods and Age UK to assist vulnerable older people.

  • Achieved a remarkable 91% employee satisfaction rate, highlighting a positive workplace environment.

  • Rothesay's ESG initiatives have had a notable impact on its investment portfolio, with a 13% decrease in its carbon intensity (measured in annual t CO2e / mm USD) compared to its 2020 baseline.

This sets the company on a promising path toward achieving its long-term goal of net zero emissions by 2050. The scope of Rothesay's monitoring has also improved, with a 93% coverage of CI in its portfolio, up from 90% the previous year. A 26% reduction in CI has been achieved in the corporate bond investment portfolio, and a new target has been set to reduce CI by 50% by 2030, further demonstrating its commitment to sustainability.

Rothesay's investments of £13.8 billion in sustainable opportunities reflect its dedication to projects that generate social value and align with the United Nations' Sustainable Development Goals. The company's acceptance as a signatory to the Financial Reporting Council's UK Stewardship Code in 2022 emphasises its effective stewardship activities.

Maintaining carbon-neutral status and significant donations to charitable causes underscore Rothesay's dedication to corporate social responsibility. The company's employees also express their pride in working for Rothesay, with over 90% reporting their satisfaction.

Tom Pearce, CEO of Rothesay, highlighted the company's commitment to sustainability and its role in providing policyholders with future security. He emphasised Rothesay's continuous improvement and dedication to positive change within the business and the broader insurance sector.

Rothesay's ESG reports demonstrate a strong commitment to sustainability, responsible investment, and social responsibility, showcasing the company's role as a leader in the UK's pension insurance sector. The path toward sustainability and ESG integration remains a key focus, reflecting Rothesay's commitment to a better future for all stakeholders.

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To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: Rothesay

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