Jupiter Asset Management will only power its offices by renewable sources after signing up to The Climate Group’s RE100 initiative.
The firm, which has around £47bn under management, has 12 offices in Europe and Asia and has three months to meet this energy target.
Jupiter has made a head start with its London office already meeting the initiative’s requirements.
In Hong Kong, where renewable energy is not available, the asset manager will invest in Chinese wind farms to offset its electrical usage.
Jupiter’s chief executive, Maarten Slendebroek, said this move highlights the alignment between the firm’s corporate strategy and its investment activities.
“As a long-term active investor, we believe that climate change and energy transition carry risks and opportunities that warrant our attention,” he added. “This initiative demonstrates Jupiter’s commitment to environmentally responsible corporate behaviour.”
The Climate Group’s chief executive, Helen Clarkson, said Jupiter recognises that shifting fully to renewable power makes business sense.
“By joining RE100, the company is demonstrating clear business leadership that will help to shape energy markets away from fossil fuels and deliver on the Paris Agreement at speed.”
