TAM Asset Management steps up climate commitment with carbon offsetting initiative.

TAM Asset Management steps up climate commitment with carbon offsetting initiative.

The Client Carbon Footprint Commitment provides TAM’s General Investment Account (GIA) and Individual Savings Account (ISA) investors with the opportunity to offset their carbon footprint – currently 6.5 tonnes of carbon per person in the UK – for each year they are invested with the company.

On behalf of each client that opts into the initiative, TAM will purchase the necessary amount of carbon credits to offset their average annual carbon footprint through the Verified Carbon Standard (VCS) Global Portfolio project, which invests in a mix of high-quality VCS projects from across the globe, with a particular focus on supporting developing nations. The cost for this is currently £58.50 per person.

Participating clients then receive a personalised certificate each year outlining their contribution to the VCS Global Portfolio project and illustrating the positive impact they have made to the environment, which might include funding renewable energy generation projects or carbon avoidance programmes, for example.

Alongside the Client Carbon Footprint Commitment, TAM has also become a certified Carbon Neutral Plus organisation, offsetting an additional 25% of its total annual carbon footprint. The company is one of the first discretionary fund managers to receive the accreditation.

The accreditation was awarded after Carbon Footprint Ltd, the Quality Assurance Standard approved provider of carbon footprint calculators, independently audited TAM’s annual carbon emissions. In alignment with being a Carbon Neutral Plus company, TAM is supporting VCS approved tree planting projects in the UK and reforestation projects in South America to offset its emissions.

Lester Petch, chief executive officer at TAM Asset Management, says: “We understand the importance of tackling climate change and sustaining our environment for future generations – a key concern we share with our client base. As investors, it is critical we become part of the solution, and achieving carbon neutrality is pivotal to accomplishing this mission.

”While we are honoured to be one of the first discretionary fund managers to be awarded Carbon Neutral Plus status, we hope this sets a precedent and encourages other key players in our industry to follow suit.

“As for our new client-facing carbon offsetting initiative, we are hugely excited to empower clients to contribute meaningfully towards mitigating global warming. They have shown a growing appetite to reduce the impact of their investments on the environment, and this simple and effective initiative provides them with a material solution.”

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