Canaccord Genuity Asset Management (CGAM)
Climate Impact & Sustainability Data (2023, 2024)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:432 tCO2e (2023)
Scope 1 Emissions:69 tCO2e (2023)
Scope 2 Emissions:110 tCO2e (2023)
Scope 3 Emissions:253 tCO2e (2023) (business travel only)
Renewable Energy Share:100% in three largest UK offices
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:20.81 kg CO2e/m2 (2022)
ESG Focus Areas
- Climate Change
Environmental Achievements
- Reduced scope 1 and 2 emissions by 31% from 2022 to 2023. Three largest UK offices now using 100% renewable electricity.
- Launched new client portal in 2023 with 12,000 users, reducing paper usage.
Social Achievements
- Not disclosed
Governance Achievements
- Formalised the management of climate-related risks and opportunities in 2023.
- Incorporated climate risk within our risk taxonomy, risk and controls self-assessment process, and broader risk management framework.
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero carbon emissions by 2050 (operations and investments).
Medium-term Goals:
- Reduce the carbon intensity of portfolios by 26% by 2030 and 63% by 2040.
- Align UK portfolios with a below 2°C pathway by 2050.
- Reduce scope 1 and 2 emissions intensity by 95% by 2050.
Short-term Goals:
- Reduce scope 1 and 2 emissions intensity by 53% by 2030.
Environmental Challenges
- Data gaps in scope 3 emissions (excluding business travel).
- Limited data for investment trusts and asset classes outside of equities.
- Material increase in select scope 3 emissions (+69%) due to resumed business travel.
Mitigation Strategies
- Engaged a third-party consultant to quantify emissions and assist in developing SBTi-aligned targets.
- Enhancing data capture to address gaps and produce more complete disclosures in future reports.
- Implementing measures to reduce business travel emissions.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events impacting key infrastructure and suppliers.
Transition Risks
- Stranded asset risk, market corrections, regulatory changes.
- Failure to implement transitional plans impacting financial resilience and reputation.
Opportunities
- Improved financial resilience from mitigating climate risk.
- Opportunities to meet consumer preferences for sustainable investments.
- Improved energy efficiency in offices.
Reporting Standards
Frameworks Used: TCFD
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Three largest CGWM UK offices now use 100% renewable electricity
- Introduced electric car scheme and bike scheme to reduce employee commuting emissions
- Reduced paper use and launched a new client portal to digitize operations
Social Achievements
- Active mentoring program and participation in the 10,000 Black Interns Programme
- Range of health-related benefits and mental health training for employees
- Women’s Network and Working Families Network
Governance Achievements
- Regular meetings with investee company senior management (around 2000 annually) to assess ESG risks
- Centralized ESG file note process with management oversight
- Active Climate Action and Sustainability Committee
Climate Goals & Targets
Long-term Goals:
- Aligning business model and strategy with UK Government net zero by 2050 objectives
Short-term Goals:
- Switch more offices to renewable energy contracts in the next 12-24 months
Environmental Challenges
- Limited Sustainalytics coverage, particularly in the small-cap space
Mitigation Strategies
- Use of a proprietary ESG questionnaire for companies with limited Sustainalytics coverage
- Direct engagement with investee companies to collect relevant ESG information
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UNPRI