XPS Pensions Group plc

Climate Impact & Sustainability Data (2024)

Total Carbon Emissions:1545 tCO2e

Scope 1 Emissions:161 tCO2e

Scope 2 Emissions:193 tCO2e (location based), 110 tCO2e (adjusted for renewable energy)

Scope 3 Emissions:1191 tCO2e

Renewable Energy Share:60%

Total Energy Consumption:1,812,093 kWh

Carbon Intensity:1.7 tCO2e/£m (Scope 1 & 2), 7.7 tCO2e/£m (Scope 1, 2 & 3)

Achieved a fourth successive year of combined Scope 1 and 2 carbon reductions.
60% of electricity consumption across the estate was generated from renewable sources.
Carbon neutrality achieved for the first time across the entire value chain for the FY 2020–FY 2021 period.
Externally certified to ISO 14001 in seven of the Group’s offices.

98% of employees affirmed that XPS is a good place to work.
99% commitment rate to the Company’s success.
Over 31,000 hours of training in FY 2024 (13% higher than FY 2023).
111 apprentices at XPS in FY 2024 (85% increase on the previous year).
Launched gender equality plan and became a signatory of the Women in Finance Charter.
Achieved Disability Confident Employer Level 2 and Menopause in the Workplace accreditation.
Received the Diversity and Inclusion Excellence Award at the UK Pensions Awards.
40 employees took a day’s paid leave to volunteer (FY 2023: 15 colleagues).
Group contributed over £67,000 to charity (FY 2023: £58,000).

Maintained 44% female representation on the Board.
Included sustainability within Executive Directors’ bonus objectives and share incentive award vesting criteria.
100% compliance training rate across the Group.
Updated Supplier Code of Conduct to include references to modern slavery.

Long-term Goals:

Medium-term Goals:

Achieve 100% renewable electricity by 2030
Reduce direct emissions by 60% and indirect emissions in supply chain by 40% by 2035

Short-term Goals:

Slight increase in Scope 1 emissions due to changing carbon intensity of natural gas.
Slight increase in Scope 3 emissions from business travel and employee commutes.
Maintaining a sustainable supply chain.

Transition to renewable electricity and more sustainable properties.
Decommissioning of two legacy properties.
Applying greater scrutiny to suppliers, evolving product offering and improving technological efficiency.
Offsetting remaining direct and indirect greenhouse gas emissions.
Updating the Supplier Code of Conduct to include references to modern slavery and future ESG considerations.

Supplier Code of Conduct (including modern slavery and future ESG considerations)

Frameworks Used: TCFD, UN SDGs

Certifications: ISO 14001 (seven offices), ISO 27001, Cyber Essentials Plus