Carbon neutral since 2013, AMP minimises our impact on the environment through a range of waste, energy and emission-reduction activities.
We have been actively pursuing these initiatives since 2002, when we released our first Environmental Policy and AMP Capital signed up to the Carbon Disclosure Project (now known as CDP).
Over this time, AMP has minimised our environmental footprint by engaging employees in initiatives targeting resource efficiency and reductions in environmental impact. From 2013–16, these activities resulted in a 25% reduction in emissions.
In 2016, for the second year AMP received a 2016 CDP Australian Climate Leadership Award for having the largest relative carbon reduction of any Australian company.
We assess our environmental risks and opportunities across the business as well as investments managed by our in-house investment manager, AMP Capital.
Towards a greener tomorrow
2002: AMP’s first Environmental Policy launched. AMP Capital signs up to the CDP.
2005: AMP Capital is a founding member of the Investor Group on Climate Change.
2008: AMP Environmental Leadership Team established. AMP reports for the first time under Energy Efficiency Opportunities program.
2009: Internal carbon levy introduced to offset business air travel emissions. Recorded a 10% rise in recycling from 2008 through co-mingled waste program, plus a 10% drop in operational energy use from 2007.
2010: AMP leaders commit to carbon neutrality by 2014. NABERS waste and energy audits on major buildings, plus lighting, IT, building management systems upgraded at AMP's head office.
2011: AMP debuts in CDP ASX 200 Climate Disclosure Leadership Index. AMP Capital commences Global Real Estate Sustainability Benchmark (GRESB) rating for Real Estate Funds.
2013: AMP becomes carbon neutral a year ahead of plan.
2014: New targets and priorities set for 2014–16 and there is a 17% year‑on‑year reduction achieved. AMP once again in CDP ASX 200 Climate Disclosure Leadership Index.
2015: The international CDP recognises AMP for its carbon reduction in 2014.
2016: Activity-based working continued at AMP HQ. A 2% year-on-year reduction achieved, 25% reduction since 2013 (above the 15% target). For the second year, AMP recognised by the international CDP for our relative carbon reduction performance. AMP Capital commences GRESB rating for Infrastructure Funds.
We continue to reduce our carbon footprint by:
- Reducing greenhouse gas emissions by a further 15% by the end of 2016
- Pursuing energy efficiency through lighting updates, IT initiatives and more efficient office use
- Working with contractors, landlords and service providers to increase waste recycling
- Reducing non-essential air travel and paper consumption
- Encouraging employee work practices that reduce environmental impacts
- Encouraging suppliers to reduce the impacts of their products and services
- Continuing with external assurance of AMP's carbon footprint.
Greenhouse gas reporting
AMP's greenhouse gas data relates to the operation of AMP's tenanted offices, data centre and business-related air travel.
From 2013 to 2016, total greenhouse gas emissions from AMP’s own operations have decreased 25% from our 2013 base year, far exceeding our 15% reduction target.
Scope 1 and 2 emissions (mainly office electricity use) decreased 30% to 9,799 tonnes from our 2013 base year, due to energy efficiency initiatives such as lighting upgrades, more efficient use of office space. There was a 3% decrease in Scope 2 emissions from 2015 to 2016, excluding data centre emissions due to a change in operational control boundaries.
Data centre: In 2016, AMP’s data centre completed a three-year decommissioning program as application services were moved to more efficient data centres. As AMP’s Scope 3 reporting boundary includes business-related air travel only, AMP’s emissions profile has been recalculated to allow for meaningful comparisons over time, consistent with AMP’s Greenhouse Gas Reporting Criteria.
Scope 3 emissions (air travel) decreased 19% from the 2013 base year to 9,350 tonnes, due mainly to reduced domestic air travel requirements. Emissions have remained steady for the past three years due to AMP’s ongoing international business activities.
Since 2013, AMP’s emissions data has been assured by Ernst & Young. You can find a copy of the 2016 statement here .
Other reporting and engagement
AMP reports annually to the Australian Government under the National Greenhouse and Energy Reporting Act 2007, which includes additional data for applicable investments managed by AMP Capital on behalf of underlying investors.
AMP participates in a number of other reporting programs, including the Global Real Estate Sustainability Benchmark Survey (GRESB) for AMP Capital‑managed real estate. In 2016, all six of AMP Capital’s real estate funds achieved the highest 5-star rating.
AMP Capital engages with policymakers as a founding member of the Investor Group on Climate Change , and engages with groups such as Infrastructure Partnerships Australia Sustainability Taskforce , Property Council of Australia , Asia Pacific Real Estate Association , Green Building Council Australia , Better Building Partnership , and the Carbon Disclosure Project (CDP). You can find AMP's 2017 CDP disclosure here.
An improved way of working
In 2016, AMP continued an extensive refurbishment at our headquarters at 33 Alfred Street, Sydney, with activity‑based working at its centre. This project is transforming the work environment through an innovative combination of space and technology to deliver a flexible and efficient workplace. In 2016, CitySwitch recognised AMP with a highly commended award for this project.
Carbon credits and community benefits
Each year, we reduce emissions through energy efficiency and, to meet our targets, offset the remaining emissions by purchasing carbon credits from verified projects.
You can find more information about our environmental performance in the 2016 AMP Community Report.
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