GHG Emissions  -  July 20, 2021

Barings Targets Net-Zero for Global Operations by 2030

Barings recently announced its intention to achieve net-zero emissions by 2030 and plans to fully offset emissions beginning from the start of 2021.

The global investment firm will implement emissions reduction programs over the rest of the decade to shift to net-zero without the use of offsets in the future. In the interim, Barings plans to shift to using renewable energy in its facilities to reduce Scope 1 and 2 emissions 100% by 2022.

“Helping build a sustainable future in service to our clients, colleagues and communities is core to our mission and good for the long-term growth and profitability of our business,” Chairman and CEO Mike Freno said in a statement.

These targets were developed in coordination with its parent company, MassMutual, which is targeting net-zero emissions by 2030.

An initiative to reduce Scope 3 employee emissions is the use of an internal tax on carbon for air travel, which Barings plans to test over the next few years. The company’s main offices in Charlotte, N.C., New York City and London have also been awarded various sustainability certifications for their energy efficiency projects and initiatives.