Bridging lender, Glenhawk, has achieved a carbon neutral certification from the Carbon Trust.
The Carbon Trust certifies the footprint of products, companies, organisations and value chains across the globe. Glenhawk is the first bridging lender in the UK to gain certification to internationally recognised PAS 2060 Specification from the Carbon Trust.
The certification reflects Glenhawk’s commitment to decarbonisation, and the neutralisation of its remaining impact through the support of environmental projects, as it continues to employ institutional style practices across the business.
The carbon neutral certification boundary includes Glenhawk’s Scope 1 & 2 footprint from its own operations. Glenhawk’s Scope 1 & 2 footprint amounted to only ~3tonnes of CO2e using a location-based approach for Scope 2 emissions. The low footprint demonstrates the benefit of the renewable energy supply tariff used for its office premises, the absence of gas on site and of refrigerants leaks for the reporting year. To compensate for emissions, Glenhawk purchased 30 tonnes of carbon offsets through ClimateCare’s Standard Portfolio, which include offsets of Gold and VCS standard. These projects additionally align with the UN’s Sustainable Development Goals.
In line with its carbon management plan, Glenhawk is currently implementing enhanced measures to achieving neutrality for this coming year, which will also include its Scope 3 category 6 business travel emissions, and potential other Scope 3 categories.
The certification is the latest milestone on Glenhawk’s sustainability pathway. Led by group treasurer Daron Kularatnam (pictured), the company is currently working towards formalising its Environmental and Social Governance framework structure, which will include implementing a carbon management plan to ensure all employees are aligned to the objective across the business.
He said: “The world we operate in today is transitioning to a multi-stakeholder model where businesses are being measured by their ability to serve not only the shareholders but also its’ customers, employees, society and the environment.
“We see an opportunity for Glenhawk to drive the green agenda within the short term lending sector, with this certification the first of a series of near term initiatives which will show we are serious about delivering meaningful impact for the benefit of all our stakeholders.”
Myles McCarthy, managing director at the Carbon Trust Advisory, added: “We are delighted to have certified Glenhawk as carbon neutral in line with the internationally recognised PAS 2060 Standard. This achievement demonstrates Glenhawk’s commitment to reducing its carbon impact as a key part of its sustainability journey.”