Climate Change

Old Mutual Limited’s position on climate change is central to our Responsible Business Philosophy, and our objective to lower the overall carbon foot print in the countries we operate in. This approach includes developing governance mechanisms, addressing the agenda on a strategic level, managing carbon risks and developing the applicable metrics and targets.

Our direct carbon footprint includes scope 1 and scope 2 greenhouse gas (GHG) emissions as defined by the Carbon Disclosure Project (CPD). These derive from sources that are owned or controlled by Old Mutual, e.g. the buildings in which our employees are based and any fuel we use (scope 1), and the power we purchase (scope 2).

Our indirect footprint refers to scope 3 GHG emissions, and includes the investments we make, our supply chains, and the waste we generate, among other elements of our business.

Montreal Pledge

Old Mutual (then Old Mutual plc) became signatory to the Principles for Responsible Investment (PRI) in 2012 as an asset owner and, in September 2015, signed the Montreal Pledge.

The Montreal Pledge is a voluntary PRI-led carbon disclosure initiative that asks signatories to commit to annually disclosing the carbon footprint of all or part of their total holdings, to put in place measures to reduce their carbon exposure, and to report on progress annually.

Old Mutual is participating in this initiative because, as a long-term investor and responsible steward of our customers' assets, we support the transition to a mixed-energy, resource-efficient and socially inclusive economy.

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Scope 1: Direct GHG emissions from sources owned or controlled by Old Mutual.

Scope 2: These GHG emissions do not physically occur from within our reporting boundary and are therefore "indirect" emissions, caused by our consumption of bought electricity, heat, cooling or steam.

Scope 3: Indirect emissions other (ex scope 2) that are not owned or controlled by us, but which occur as a result of our activities.

Source: CDP.