We promote high ethical standards and have a strong culture of doing the right thing for our clients, our employees, our shareholders and the Group. If an employee does have any ethical concerns, we have an internal whistleblowing policy, through which they can raise concerns about behaviour or decisions that could indicate potential wrongdoing. A 24-hour hotline is available for employees to report any concerns anonymously, which is publicised widely to employees. Personal securities trading by employees is subject to clearly defined internal policies.
Employees are not permitted to solicit or accept any inducements that are likely to conflict with their duties. We have policies in place and train employees in relation to treating customers fairly, anti-bribery, anti-money laundering, terrorist financing, market integrity, gifts and entertainment and data protection. Due diligence is undertaken before entering any material new client relationship and this is enhanced in high-risk countries or for higher risk entities or individuals.
This year we also published our first Slavery and Human Trafficking statement, to outline the steps we are taking to prevent slavery and human trafficking from taking place in any part of our business or in our supply chains. This can found on our website at www.schroders.com/slavery.
Schroders supports Investment 2020, a programme that provides opportunities for school leavers and graduates in asset management. As part of this programme, we recruited across all areas of the business in 2016. More than half of the trainees from our 2015 programme progressed to full time roles within Schroders in 2016, and the majority of those who did not stay at Schroders went on to attend university.
In 2016, we donated £1.5 million to charitable causes around the world with an emphasis on supporting our employees through Give As You Earn (GAYE) payroll giving and sponsorship matching. In the UK, 29% of our employees donated to charitable causes through GAYE and the firm’s matching donations increased to £839,000 (2015: £763,000), qualifying us for the Platinum award for payroll giving.
In addition to financial donations, we have provided gifts in kind, organised frequent charitable collections and encouraged our employees to share their knowledge, skills and capabilities with charitable organisations. Through our volunteering policy, we offer employees up to 15 hours of paid volunteering leave each year and provide a ‘time matching’ charitable donation for volunteering that takes place outside of working hours.
We are committed to minimising the environmental impact of our operations and to delivering continuous improvements in our environmental performance.
In 2015, we set targets for the first time to purchase electricity from renewable sources. We committed to targeting 60% of our global electricity supply to be from renewable sources by the end of 2016 and for that figure to increase to 75% by the end of 2020. We have successfully achieved the first of these targets, as 69% of our electricity purchased globally in 2016 was from renewable sources.
We use DEFRA’s conversion factors each year to calculate our CO2e* emissions for all office locations. Our data has been externally verified and further information will be disclosed in our Carbon Disclosure Project submission later in the year, which will undergo a AA1000 assurance review. Our total carbon output in 2016 has reduced by 13%. This is due to both a decline in our global electricity and oil consumption following office moves during the year and a change in guidance from DEFRA on air travel.
For 2015 and 2016 we have used the internationally accepted GHG Protocol Corporate Standard for reporting. Previous years have been restated accordingly, although 2013 does not include CO2e emissions for employees using their own vehicles for business purposes, as this data was not captured in that year.
CO2e emissions per employee
Total CO2e emissions
In 2018, our UK headquarters will relocate to 1 London Wall Place, an inspirational new building in the heart of the City of London. This is an exciting opportunity to bring all of our London-based employees together in one building in a collaborative and modern working environment.
We have given much consideration to building efficiencies and the Intelligent Building Management System being installed will optimise energy conservation, as well as providing trend analysis and advanced analytics. The sustainability objectives we set for the building will cover a variety of topics including energy, materials and water use and we are targeting a BREEAM* rating of ‘Excellent’. Our expectation is that this, together with moves to new offices in New York and Singapore, will help us to improve our environmental impact.
Through 2017 we are looking to further develop and expand our CR efforts. We are developing an enhanced strategy for the firm, building on our long history of philanthropy and our ongoing commitment to acting responsibly, supporting both our clients and our people and making a positive wider contribution to society. We will look to create focused attention on a number of specific themes globally to enable concentrated effort and impact. We will also seek to introduce charity and community partnerships that offer sustainable, long-term value.