Global reinsurance broker BMS has selected Apex Group to administer the latter’s Carbon Footprint Assessment and Reporting service.
The recently-launched service will allow BMS to measure its sources of carbon emissions and establish plans to reduce its carbon footprint through Apex’s secure ESG online platform.
Under the partnership, Apex will use the platform to quantify and report on BMS’ Scope 1, 2 and 3 emissions, which will simplify reporting requirements to make more efficient calculations.
The proprietary platform uses a myriad of up-to-date data sources and adheres to industry best practice reporting standards, such as the Task Force on Climate-Related Financial Disclosures, the Carbon Disclosure Project and the Greenhouse Gas Protocol.
BMS’ use of Apex’s service extends its existing relationship with the Global Travel Management Carbon Offset Programme, in partnership with Trees4Travel, which helps BMS to offset the greenhouse gas emissions caused by business flights.
Andy Pitts-Tucker, managing director of Apex ESG ratings and advisory, explains: “Insurers are coming under increasing pressure from their stakeholders to demonstrate proactive strategies to contribute to international carbon reduction targets.”
“In order to do this, all companies must quantify and fully understand their carbon footprint in order to create and articulate an action plan to reduce their carbon emissions — and this new tool provides our clients with an efficient, accurate and accessible way to achieve this.”
Nick Cook, CEO of BMS Group, adds: “We strongly believe that the insurance industry has an influential commercial and moral role to play in reducing greenhouse gas emissions to net zero by 2050.”
“Apex’s service provides an efficient and intuitive method of collecting the necessary information from our business, allowing us to accurately monitor, track and enhance our carbon footprint over time.”
“By engaging Apex to calculate our carbon footprint, we can take steps to reduce and offset our emissions and we hope to set an example to others in the insurance industry that with the right tools, this process can be straightforward and achievable,” Cook concludes.
