Our activities ensure that we show leadership and act in a straightforward way for the benefit and understanding of everyone.
We understand that we have an obligation to ensure we operate in a responsible, respectful and sustainable way.
Central to this is maintaining high standards of business supported by appropriate policies, controls and oversight. We maintain constructive relationships with the relevant regulatory bodies and others who provide the Group with supervision.
We also value our partnerships with a number of third-party suppliers and service providers and seek to receive assurance that employers within the services and limited supply chains used by the Group pay a living wage.
Lancashire is committed to understanding and managing the environmental impact of its business.
We continue to measure our carbon footprint for our own operations annually with a view to minimising its negative impact through mitigation strategies and by offsetting at least 100% of our calculated GHG emissions, in order to remain carbon neutral.
The Group fully offset its calculated GHG market-based emissions for 1 July 2022 to 30 June 2023 by purchasing verified credits in both carbon avoidance and carbon sequestration programmes.
Carbon credit breakdown:
- 80% carbon avoidance renewable energy projects in Asia
- 20% carbon sequestration renewable energy in Chile and tree planting in the UK
The Group recognises the challenges posed by climate change and considers its environmental impact as part of its wider risk management and strategic planning process.
Our London office at 20 Fenchurch Street has a BREEAM ‘excellent’ certified performance rating. The building sources 100% renewable electricity on a tariff that is backed up by associated Renewable Energy Guarantees of Origin (REGOs), with an appropriate residual grid factor applied for our operations in Bermuda and Australia. Representatives from the London office have engaged with the building management’s ‘Green Building’ meetings and the property’s energy saving initiatives.
We welcome the opportunity to be part of the industry’s focus on driving action on climate change risk and look forward to coordinating with firms across the sector as we all rise to the shared challenges we face.