Climate Change Data

Man Group plc

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:6,554 tCO2e/year (market-based)
Scope 1 Emissions:447 tCO2e/year
Scope 2 Emissions:2 tCO2e/year (market-based)
Scope 3 Emissions:5,799 tCO2e/year
Total Energy Consumption:14,208,000 kWh/year

ESG Focus Areas

  • Climate Change
  • Diversity, Equity & Inclusion
  • Responsible Investment

Environmental Achievements

  • Met all 2023 carbon emission reduction targets (Scope 1, 2, and 3 upstream leased assets and business travel).
  • Significant reduction in weighted average carbon intensity (WACI) for AUM subject to Net Zero Asset Managers initiative (NZAMI) interim targets compared to 2019 baseline.
  • ESG-integrated AUM increased to $59.3 billion (19% increase from 2022).

Social Achievements

  • Employee engagement score of 81% in 2023 staff survey.
  • Voluntary attrition rate reduced to 7% (from 10.7% in 2022).
  • Increased number of women in senior management roles to 31%, exceeding the 2024 target of 30%.
  • 400+ employees volunteered during 2023 through the ManKind program.

Governance Achievements

  • Completed acquisition of Varagon Capital Partners.
  • Established a new, streamlined Executive Committee.
  • Strengthened Proxy Voting Policy in climate, diversity, and human rights.

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero emissions within investment portfolios by 2050 (NZAMI commitment).
Medium-term Goals:
  • Achieve net zero carbon emissions across operations by 2030.
Short-term Goals:
  • Reduce Scope 1 natural gas and fuel emissions by 30%
  • Reduce global energy usage by 10% per year
  • Reduce Scope 2 & 3 (upstream) leased assets market-based emissions by 50%

Environmental Challenges

  • Challenging market conditions due to inflation, interest rate uncertainty, and geopolitical events.
  • Muted performance of trend-following absolute return strategies.
  • Integration risks from Varagon and Asteria acquisitions.
  • Evolving ESG regulatory landscape.
Mitigation Strategies
  • Robust risk management and technology-empowered platform to navigate market volatility.
  • Diversified product offering to limit risk from underperformance of any particular strategy.
  • Dedicated integration workstreams to align systems and processes with risk appetite.
  • Strong frameworks and control functions to ensure alignment with evolving regulatory environments.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Severe weather events impacting business operations.
Transition Risks
  • Market disruption or volatility due to low-carbon economy transition.
Opportunities
  • Development of climate-focused investment strategies.

Reporting Standards

Frameworks Used: TCFD, GRI, UNGC, PRI

Third-party Assurance: KPMG (limited assurance on Scope 1, 2, and 3 emissions)

Sustainable Products & Innovation

  • 39 Article 8 and 9 funds under SFDR

Awards & Recognition

  • Environmental Finance’s ESG Engagement Initiative of the Year (Asia)