Doing Business the Right Way
To help us act responsibly and inclusively in every way we can, we have internal systems and practices, controls and procedures to govern our conduct across all areas of our operations.
We will continue to incorporate Environmental, Social and Governance factors in our decision-making, how we operate our business, where we place our investments and the products and services we provide.
Our progress: Doing Business the Right Way
| Priorities | Delivered in 2022 | Aims for 2023 |
| Responsible Investments | ||
| Measuring carbon emissions across our investments and property investments | We onboarded a market leading ESG data provider to help us monitor progress against our Net Zero Roadmap | Make progress towards our long term aims of delivering: 50% emissions reduction in NFU Mutual’s equity and corporate bond portfolios by 2030 100% emissions reduction in NFU Mutual’s equity, corporate bond and property portfolios by 2050 |
| Contributing to a more sustainable global financial system | Became signatories to the Principles for Responsible Investment | Maintain affiliation |
| Governing our investment standards | Invested in line with the principles of the UK Stewardship Code | Achieve and maintain Stewardship Code accreditation |
| Responsible Property Investments | ||
| Electricity supply | 100% of electricity procured across property investments was renewable where NFU Mutual was responsible for the supply | 100% of electricity procured across property investments to be renewable where NFU Mutual is responsible for supply, where available. We will also continue to work with tenants to encourage similar procurement strategies across the property portfolio |
| Green lease clauses | Since January 2022, 100% of new and amended property investment leases include green lease clauses | 100% of new leases and lease variations to benefit from green lease clauses |
| Priorities | Delivered in 2022 | Aims for 2023 |
| Support NFU Mutual’s Climate Risk Strategy | Review of our procurement processes to include climate change impact | Calculate carbon footprint for strategic, key and operational suppliers within the supply chain and develop our procurement processes to include climate change impact |
| Increase supplier diversity | Spent £510,518 with social enterprises as part of the Social Enterprise UK Buy Social Corporate Challenge | Continue to work with social enterprises as part of the Social Enterprise UK Buy Social Corporate Challenge and increase spend by 10% |
