RPIA SUSTAINABILITY REPORT 2023
OVERVIEW
INVESTMENT MANAGEMENT
FIRM
16
MEASURING OUR CLIMATE IMPACT
RPIA acknowledges that its activities as an employer and an investment manager have an impact on climate. As part of our sustainability strategy, we are committed to acknowledging, addressing and, to the best of our abilities, mitigating this impact. As part of our ongoing education related to our climate impact, we recognize that understanding the sources of our greenhouse gas (“GHG”) emissions is a key step in addressing and setting impactful goals for mitigation and, where possible, reduction. In 2023, we continued our partnership with BMO Radicle to update our GHG inventory and to review and assess our plans for mitigation and reduction. Important components of our efforts in 2023 include the implementation of energy consumption reminders, and the purchase of offsets derived from projects that are aligned with our focus on community and philanthropic action. By completing all component parts of the BMO Radicle Climate Smart program in 2023, we received Radicle’s Climate Smart Certification. We are encouraged by our on-going partnership with BMO Radicle, and look forward to sharing our future progress.
The activities captured covered emissions for the fiscal period of 2023: Scope 1: Office natural gas consumption Scope 2: Office electricity use
Scope 3: Office waste management, business travel (air/rail travel, hotels, taxis/Ubers/Lyfts), daily employee commuting, paper consumption, and heat/electricity from work-from-home
Our firm emitted a total of 86.06 tonnes 3 of greenhouse gases in FY2023, most of which resulted from business travel (road, air, and accommodation), staff commuting, and heat. This represents a meaningful (~15%) decrease from our emissions reported in FY2022. The shift in emissions was largely driven by a decrease in our scope 3 emissions inventories for heat and staff commuting, which we attribute to RPIA’s hybrid working model, and enhanced data collection efforts to ensure we more accurately account for emissions related to employees’ home offices and working environments. As in past years, our largest contributing categories are all linked to employee commuting and business travel.
86 tonnes of greenhouse gases emitted in FY2023
3 2023 emissions calculations do not include an evaluation of financed emissions (category 15 emissions). As tools, including those used by BMO Radicle, mature in their capacity to assess financed emissions, RPIA intends to include their assessment as part of its overall climate impact evaluation.
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