In April 2022, Montagu received validation from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions (GHG) reduction targets. As one of the first PE firms to adopt science-based targets, the validation confirmed Montagu’s commitment to acting on climate change and its pledge to build and grow sustainable businesses. The targets apply to Montagu’s corporate operations and its portfolio of investments and are in line with a 1.5 °C pathway.
Montagu has committed to:
- 55% of its eligible private equity investments by invested capital setting SBTi validated targets by 2026, and 100% of its eligible private equity investments by invested capital setting SBTi validated targets by 2030.
- reduce absolute scope 1 and 2 GHG emissions 70% by 2030 from a 2019 base year.
- increase annual sourcing of renewable electricity from 4% in 2019 to 100% by 2030.
Montagu’s portfolio targets cover 95% of its total investment and lending activities by invested capital as of November 2021.
We drive sustainability into our own operations, an example of which is a recent office move. In 2022, we relocated to a new London office space. In every aspect of the design and move, we focussed on sustainability as one of our key considerations, and the office has been awarded a SKA Gold rating, the highest SKA accolade for a sustainable fit-out. SKA’s standards cover energy, CO2 emissions, waste, water, materials, pollution, recycling, wellbeing and transport, and we met their criteria through choices such as use of high recycled content materials, adopting a biophilic office design, embracing natural light, and implementing energy saving measures including timed lighting solutions. Furniture and electronics from our old office space were reused or donated to local charities.
Montagu’s Managing Partner-Chair, Jason Gatenby says, “I am proud that we are one of the first private equity firms to set science-based carbon reduction targets for our own operations and our portfolio. This reflects our longstanding commitment to reducing carbon emissions and is aligned with the actions that we have already undertaken to support our portfolio companies to decarbonise.”
If you would like to find out more about our climate commitment within our portfolio, please follow this link Climate.