Introduction *
Green Future Investments Limited Climate Report
The purpose of the report is to increase the understanding of what is driving the company’s greenhouse gas emissions, set targets to reduce these emissions, and ensure transparency and traceability on the journey towards net-zero.
Methodology
The emissions or greenhouse gas accounting is based on the Greenhouse Gas (GHG) Protocol’s corporate and value chain standards (ghgprotocol.org).
The GHG Protocol defines emissions in three scopes:
- Scope 1 – The company's direct emissions from vehicles, combustion, processes, or leakages
- Scope 2 – The company's indirect emissions from energy purchased and consumed (electricity, heating, cooling).
- Scope 3 – Greenhouse gas emissions that occur upstream and downstream in the company's value chain, as a consequence of the company's operations. Examples of scope 3 emissions are purchased goods and services, transport, use and disposal of products, business travel and employee commuting.
Total greenhouse gas emissions are quantified in carbon dioxide equivalents (CO2e), which take into consideration that different greenhouse gases (carbon dioxide, nitrogen oxides, methane etc.) have different global warming factors.
reporting year
*2023
number of employees in the reporting year
*6
Commitment And Targets *
net zero target year
*2030
Base year
*2023
comment on your net zero targets
*At Green Future Investments we fund technological innovative net zero and net negative solutions as well as supporting conservation, restoration, protection & diversity of the natural world, on land, in the air & in our waterways and oceans through our charity The Nature Recovery Project. We seek to support the most impactful projects and these projects vastly outweigh our own carbon impact we create as we conduct our work. That said, we still want to reduce our own carbon footprint as much as we can.
near-term scope 1 target
*10
target year
*2025
near-term scope 2 target
*10
target year
*2025
near-term scope 3 target
*25
target year
*2025
comment on your near-term targets
*Scope 1 - There is little scope to reduce our scope 1 emissions due to them being generated by natural gas on site for heating. That said, we hope our scope 1 emissions in 2024 and beyond will be 10% less than 2023 when we were using two premises. Scope 2 - As with Scope 1, our Scope 2 emissions for 2023 were impacted by using 2 office premises. This will not be the case 2024 onwards. Although electricity used on site is 100% renewable from the provider. Scope 3 - Our largest scope 3 carbon footprint comes from our investments. We are exploring ways in which this may be reduced. Downstream travel, staff commuting and business travel we will continue to avoid the most negatively impacting methods possible. For Purchased Services we will continue to engage with Suppliers to better understand their carbon footprints.
Own emissions *
scope 1 emissions
scope 1 emissions (metric tons co2e)
*10.58
own facilities
*10.58
metric tons CO2eown vehicles
*N/A
own processes
*N/A
scope 2 emissions
scope 2 emissions (metric tons co2e)
*0.83
total energy consumption (kwh)
*3890.80
renewable energy
*100
purchased electricity
*0.83
metric tons CO2eRenewable electricity (%)
100
purchased steam
*N/A
Renewable electricity (%)
-
purchased heating
*N/A
Renewable electricity (%)
-
purchased cooling
*N/A
Renewable electricity (%)
-
Comment on your energy consumption
*Our energy consumption for 2023 is higher than we would expect for 2024 onwards due to using 2 premises for 6 months of the year.
Value chain emissions *
scope 3 emissions
scope 3 emissions (metric tons co2e)
*35755.75
supply chain related - upstream emissions
purchased goods and services
*14.10
metric tons CO2ecapital goods
*1.78
metric tons CO2efuel and energy related activities
*N/A
transportation and distribution (upstream)
*N/A
waste in operations
*0.249
metric tons CO2ebusiness travel
*14.07
metric tons CO2eemployee commuting
*3.37
metric tons CO2eleased assets (upstream)
*N/A
customer related - downstream emissions
transportation and distribution (downstream)
*0.757
metric tons CO2eprocessing of sold products
*N/A
use of sold products
*N/A
end-of-life treatment of products
*N/A
leased assets (downstream)
*N/A
franchises
*N/A
investments
*35722.43
metric tons CO2eIf you have excluded or have not measured any relevant sources of value chain emissions, provide your estimate of the % of your total emissions that is represented by these sources.
*-
List any sources of emissions excluded:
*We have included all that are applicable to our business
describe the calculation methodology and comment on accuracy:
*The methods used for these calculations are: - Purchased goods and services - Spend method using the Normative calculator - Capital Goods - Spend method using the Normative calculator - Waste in operations - using emission factor of 497.045kg/CO2 per tonne - Business Travel - recorded accurately by team members for 4 months and calculated using relevant emission factor. The results multiplied by 3 to give a 12 month amount. - Employee commuting - same process used as Business travel - Downstream transportation - we have included the travel of customers to our site for meetings and these are recorded per visit - Investments - SUGI software has been made available to us by one of our Partners which gives a carbon impact for the majority of the investment portfolio.
Actions and plans to reduce emissions *
to reduce emissions in line with my commitment, my company has a plan and is taking action:
*Yes
Scope 1 Actions
own facilities
Yes
Our current work premises is a listed building and therefore structural adaptations cannot be made such as replacing windows etc. We hope 2024 scope 1 emissions will be less than 2023 due to using one premises rather than two.
own vehicles
N/A
Our company does not own any company vehicles
own processes
N/A
We do not have any internal processes that contribute emissions
scope 2 actions
purchased electricity
No
Our electricity is 100% renewable via our provider.
purchased steam
N/A
There is no steam used in our facility
purchased heating
N/A
We have now moved to a new premises that is heated by its own natural gas combustion boiler.
purchased cooling
N/A
There is no cooling in our facility
scope 3 actions
supply chain related (upstream)
purchased good and services
*Yes
We will actively be seeking to only engage with third parties that have active climate plans where possible.
capital goods
*No
Any capital goods spend is always likely to be minimal
fuel and energy related activities
*Yes
We will ensure devices are turned off and that we do not waste energy unnecessarily
transportation and distribution (upstream)
*No
Our only upstream transportation would be the travel of suppliers to our premises which we will have covered within Purchased Goods and Services.
waste in operation
*Yes
We produced minimal waste due to being a small team of 6 however we will begin composting our organic/food waste.
business travel
*Yes
Our business travel policy is to use the least carbon impacting method possible as well as taking all possible opportunities to remove travel all together by using video conferencing where possible.
employee commuting
*No
Employee commuting is already kept to a minimum due to most staff working from home 40 - 60% of the time.
upstream leased assets
*N/A
We have no leased assets
customer related (downstream)
transportation and distribution (downstream)
*N/A
N/A
processing of sold products
*N/A
We provide funding, not a product
use of sold products
*N/A
As above
end-of-life treatment of products
*N/A
As above
leased assets (downstream)
*N/A
We do not lease assets
franchises
*N/A
N/A
investments
*Yes
Our focus with our investment strategy will be on seeking investments with the lowest carbon footprint, wherever possible.
i have asked my suppliers to halve emissions before 2030 and join the un-backed race to zero campaign
*No
i have communicated my commitment and actions to my business customers and asked them to join the un race to zero
*No
Climate Solutions *
Do you classify any of your existing goods and/or services as low carbon products or products that enable a third party to avoid GHG emissions in their value chain, here named “climate solutions”?
*Yes
What percentage of your total revenue comes from sales of climate solutions?
*100
Provide descriptions/names of your climate solutions:
*1. Providing funding to the Rainforest Trust 'Save the Brazilian Amazon' project which is expected to store carbon in the ecosystem to an amount 648,507,695 metric tons of CO2 equivalents for the entire project. Our grant equates to 15.5% of the total project cost, so we have assigned 15.5% of the CO2 stored – which will be 100,750,710 metric tons of CO2e. 2. We have made a significant grant to the Ashden Let's Go Zero Schools decarbonising program where the goal is to have all schools on comitted to being net zero by 2030. This is likely to have a CO2 benefit in the region of 100million tonnes and so we will attribute a % of that against our contribution once we have more accurate figures from Ashden. 3. We currently fund 4 separate programs with Cranfield University. The Brian Meredith Net Zero Scholarship Fund, The Future Frontiers Fund, The Technology Accelerator Fund and the Entrepreneurship Fund. All of these are aimed at supporting technological innovative ideas that are aimed at fixing our climate. It is difficult to put a projected CO2e benefit to these funds as they will vary but we are working on developing this data with Cranfield University. 4. We currently own two land parcels in the Bedford area that we have purchased via our 'adjoining' charity The Nature Recovery Project. We are using these land parcels for re-wilding and tree growing in partnership with the Forest of Marston Vale. To date we have planted 300,000 trees and shrubs. Our aim is to continue to procure further suitable plots of land as they become available. 5. We have invested funds with Zero Carbon Capital who target Pre-Seed and Seed investments supporting entrepreneurs and scientists in the fight for the future of our planet
Methodology used to assess these as climate solutions:
*Our approach is to work with credible partners who are the experts. So far these are The Rainforest Trust, Cranfield University, Ashden Climate Solutions & The Forest of Marston Vale. Our due diligence process used when considering new projects includes understanding the impact of the project, particularly the estimated CO2e benefits.
Third party which has validated the assessment, if any:
*Any data we use will have been provided by and agreed with our Partners.
How much of your research and development budget is allocated to climate solutions?
*100
are you investing in climate and/or nature outside your value chain?
*Yes
provide details of the project/s you invest in:
*These are listed above.
how are they quality secured?
*This is covered above
which value do they represent (in usd)?
*20.095 million USD 15.837 million GBP
which percentage (%) of your total emissions (scopes 1, 2 & 3) do they represent?
*100
Management and strategy *
Is responsibility for climate strategy and action clearly allocated at executive & board level? If yes, describe how and to which positions.
*Yes
The company has 2 Directors that have ultimate responsibility and set the vision and mission for the organisation. They have a Head of Strategy and Operations Manager who make it happen and a Head of Governance to oversee process.
Is there board level oversight of climate action? If yes, describe how.
*Yes
The Directors approve all project investments before they are made. The Head of Governance reports into the Directors and produces a Management Report for the Directors quarterly
Have you analyzed whether your strategy, business model and product/service portfolio are aligned with the latest climate science? if yes, explain if/how it fulfills this ambition or how it needs to be transformed.
*Yes
Green Future Investments Ltd (GFIL) is a private company founded in 2021, that provides funding to enable and accelerate climate positive innovation targeting net negative and net zero solutions. GFIL seeks opportunities to partner with organisations who share their values and ambitions for a cleaner, greener future.
Do you identify, assess and manage climate risks? If yes, describe how.
*Yes
As part of this membership to the Climate Hub, our Head of Governance ensures our activities are reviewed periodically for emission impact.
Have you integrated climate and/or nature into your mission statement? If yes, describe how.
*Yes
Our current mission statement is as follows: "At Green Future Investments Ltd we believe that we can make a difference in the fight to save our planet. Our sole aim is to support positive climate change initiatives and we proactively seek opportunities to do just that". For our Charity The Nature Recovery Project our mission statement is: 'At TNRP our aim is to support conservation, restoration, protection & diversity of the natural world, on land, in the air & in our waterways and oceans'.
Do you contribute to accelerating climate action in society e.g. by influencing peers, governments, employees, and/or aligning your membership in trade associations with your missions to halve emissions by 2030?
*Yes
This is the purpose of our organisation reflected in our mission statement
Results, challenges and outlook *
Comment on results:
*Although a small organisation providing funding to support climate sustainability projects, we recognise there are steps we can take to reduce our own carbon footprint which we will do as much as possible. The carbon benefits of the projects we fund vastly outweighs our own carbon footprint.
Do you face any key challenges in reducing emissions and/or scaling climate solutions? If yes, describe how.
*Yes
Our key challenge is to find the most impactful projects to fund so we really make a difference. We address this by having a robust due diligence process.
What support would you need to tackle these challenges?
*Growing relationships with key stakeholders is key which we continue to do which can unlock further opportunities.
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