In 2021, we were the first private equity house to put our entire portfolio through accredited Carbon Literacy training.
Delegates leave with an understanding of the science behind climate change, the effect of climate change on business and our personal lives, an insight into the unequal global impacts of climate change and most importantly, it addresses how we can make changes to lower our carbon footprint.
To complete the training, companies pledged to implement carbon saving activities based on their learnings and as a result, we are now able to link the following outcomes directly to delivery of the training:
- Undertook a baseline carbon footprint calculation, which can be used as a starting point for setting a carbon reduction plan. FourNet plan to publicly report this footprint to increase its accountability.
- Increased supply chain sustainability by working with (Palatine Impact Fund portfolio company) easyfundraising, after collaborating during the training. The easyfundraising platform is now used to raise money for FourNet’s charity partners every time supplies are purchased.
- FourNet took the certification one step further by becoming an accredited Bronze Level Carbon Literate Organisation.
- Switched beef supplier from Argentinian reared beef to UK reared beef after learning that the average beef from South America results in 3x the amount of Greenhouse Gas emissions compared to beef produced in Europe (BBC Climate Change Calculator).
- Switched to a sustainable pension provider for all employee pensions, saving approximately 19 tCO2e per pension, per year (based on analysis conducted by Aviva, Make My Money Matter and WWF).
- Completed LED lighting installation at all depots. If each of these LED lightbulbs were left on for a year, 285kg less CO2e would be emitted per bulb compared to an average incandescent bulb (How bad are bananas? Mike Berners-Lee).
- Started to install EV charging points at depots, to encourage the use of electric vehicles among staff members and support those making the switch.
- Engaged with its energy supplier and switched to green energy across the estate.
- Pledged to complete a strategic review of its ESG plan to create a structured approach and improve engagement across the business.
- Following the acquisition of sustainability consultancy, Delta Simons, Lucion did just that. The review started with a materiality mapping process to develop key strategy themes which can be used to engage the entire business.
- After attending the first round of training CTS proceeded to train its entire ESG group in carbon literacy. Members from across the company representing a range of seniority levels and expertise joined the second round of training hosted by Palatine in November 2021. CTS now boast 12 Carbon Literate individuals.
- CTS became an industry leader by committing to the Pledge to Net Zero. The pledge requires signatories to develop science-based targets aligned to the UK government’s Net Zero by 2050 goal and aims of the Paris Agreement. Alongside this, signatories annually publish a piece of research or thought leadership on practical steps to delivering an economy aligned to net zero carbon, in order to support the wider community in moving the needle.
- Undertaking an ongoing project to robustly measure the carbon footprint of its bedding manufacture from its Tier 1 suppliers to end customer.
- Introduced a salary sacrifice scheme for electric vehicles, to support employees in making the switch to cleaner transport.