SEP is on the path to net zero with 100% carbon removal
- Date Published
SEP has purchased carbon removals to offset 100% of its 2021/22 carbon footprint, as part of its ongoing commitment to pursuing excellence in ESG standards.
The first step on SEP’s journey towards net zero was measuring and understanding its carbon footprint. To do this, it partnered with carbon accounting experts, Supercritical, who work with companies to calculate their emissions and access the high-quality carbon removals market. With their help, SEP invested in two high-impact programs to remove carbon dioxide from the atmosphere: an afforestation program and a durable biochar project focused on net-negative technologies, removing carbon at an industrial scale.
There is no viable scenario for maintaining a habitable planet without the need for carbon removal, with leading industry standards such as SBTi and ISO excluding offsets and non-durable carbon removals from their assessment of net zero.
SEP is developing further plans to reduce its emissions and align ourselves with recognized net zero pathways. These include switching to green energy in SEP’s offices and finding ways to make business travel more efficient.
Matthew Sumner, ESG and Sustainability Lead at SEP, said:
“We are at a decisive point in the fight against climate change and we know that, as investors, we have a critical role to play in tackling this existential challenge. It was important to us to focus on carbon removals rather than conventional offsets and be proactive in creating a more sustainable future for all.
Although we are proud to be carbon neutral today, this is just the first step on a longer journey towards our end goal of net zero. We are committed and ambitious and will continue to review our strategy to assess how we can best tackle the emerging demands of the climate crisis. We will continue to share our learnings with our portfolio companies and work with them as a supportive partner on their own net zero journeys.”