Fidelity’s net-zero journey and sustainability investments

In 2022, more and more investment firms are focusing on sustainability data to encourage action and manage risk. As the firm aims for net-zero by 2030. Fidelity International Ltd (FIL) has embarked on its own sustainability journey and will indirectly influence other organisations to do the same. 

As an investment management firm, FIL is responsible for mutual funds, pension management, fund platforms for private and institutional investors. Ben Clifford, Global Health, Safety and Sustainability - Associate Director at Fidelity International Ltd, spoke at Sustainability Live about the company’s net-zero journey and what the firm is aiming to achieve by 2030. 

Clifford explains more about the company’s journey so far, which includes both Scope 1 and 2 emissions. It has worked to optimise its offices and other areas of its business for energy efficiency, and carried decarbonisation audits at its largest sites—that make up 80% of the firm’s emissions.

Clifford provides some critical data from FIL regarding various aspects of the business, which was impacted by COVID-19 and the demands of the environment. In 2021, the company eliminated around 10%—based on 2019 figure, reduced its water consumption by 10%, and air travel by 20%, along with other areas such as energy consumption. He also presents the current targets the company is aiming for by 2024. 

While the company has compiled its first sustainability report, data on Scope 3 emissions is hard to come by.

“COVID has made that really difficult. In all the targets that we’ve set for 2024, we’re either close to achieving, achieving, or exceeding in some cases. Some of that is due to COVID and some of that is due to initiatives that we’ve implemented,” Clifford says. 

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