As 2022 draws to a close, we are reflecting on some of the key ESG commitments M Group Services has made this year.
The start of the year saw M Group Services receive an ESG rating of 9.6 from Sustainalytics, one of the leading global rating agencies for ESG.
Sustainalytics assessed the Group against 55 global benchmarks for ESG. Our score is the best performance in the business support services sector, compared to a sector average of 21.9. This means the Group has a ‘negligible risk’ of reputational and operational risks through its direct and indirect suppliers.
In March, we committed to the Science Based Targets initiative (SBTi), supporting efforts to limit global warming to 1.5oC and cut carbon emissions.
The SBTi targets provide a pathway for the Group to reduce greenhouse gas emissions (GHG) across all three scopes. Scope 1 covers direct emissions, for example company vehicles. Scope 2 includes all energy-related indirect emissions, such as purchased electricity. Scope 3 emissions are those generated from the Group’s supply chain, for example, buying products from suppliers.
These SBTi targets have given the Group an understanding of what needs to be done to help us achieve our goal of halving carbon emissions by 2030 and reaching net-zero by 2050. We will continue finalising our plans in the new year before we present them to the SBTI for endorsement.
In April, we announced M Group Services commitment to joining the United Nations (UN) Global Compact.
The world’s largest sustainability initiative is focused on principles surrounding human rights, labour, the environment and anti-corruption.
By joining the UN Global Compact, the Group is committing to creating a working environment in which its people can learn, develop and grow while protecting the natural environment.
We launched our annual ESG Report in September with examples of our ESG performance and achievements from the year April 2021-March 2022.
The report recognises Group successes and business specific achievements.
We also launched our M Group Services Carbon Reduction Group (CRG) in September. Meeting regularly, experienced professionals from across the Group and its operating businesses offer valuable insight into their specific sectors and the measures being taken to cut carbon.
Andrew Hunt, Director of ESG and Innovation at M Group Services, said: “This has been a pivotal year for our Group and operating businesses.
“Our first Sustainalytics score has provided us with a positive foundation for our commitment to the environment, our people and governance.
“We’re proud of the progress we’ve made in 2022 and look forward to building on that in 2023 and beyond.”
These are just a few of the steps we have taken towards making a positive difference.
Our people are at the heart of what we do and we want to thank them for making this an incredible year of ESG progress. We look forward to seeing what 2023 has to offer.