XPS Pensions Group has become net carbon neutral through the use of carbon emissions offsetting across its entire value chain.

As part of this, the group’s scope 1, 2 and 3 carbon emissions will be offset by the purchase of UN-approved renewable energy with immediate effect, in a move that was highlighted as a “significant step” in the group’s drive to become a more sustainable business.

The group will also use its advisory position, with assets under advice currently totalling £140bn, to encourage clients to reduce the environmental impact of their own activities and investments.

XPS Pensions Group co-CEO, Paul Cuff, commented: “Becoming a carbon neutral business is a major step forward in XPS’s sustainability journey and we have invested in highly reputable carbon credits to help achieve this.

“We do, however, recognise this can only be part of the solution in solving the climate crisis, which is why we’re committed to undertaking multiple initiatives to reduce our carbon footprint directly.

“We are also using our wider influence to create positive change by encouraging capital flows to move in the direction of a more sustainable future.”

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