The Pensions Regulator (TPR) has released a new report outlining how it will achieve its 2030 net zero goals and reduce its operational emissions.
The government agency aims to achieve net zero emissions in gas, electricity, waste, business travel, and water by 2030. It also targets science-based net zero emissions across all operations by 2050, aiming to deliver a minimum of a 90% reduction in emissions.
In its plan, TPR detailed that it will reduce operational emissions by at least 90% by 2030, purchasing carbon credits to offset the remaining emissions.
Crucially, being a government body, TPR will align with various government policies and frameworks. This includes Greening Government Commitments (GGCs), the UK government’s net zero strategy, the Government Property Sustainability Strategy (GPSS), UN Sustainable Development Goals (SDGs) and Science-Based Targets initiative (SBTi).
TPR outlined that the next step in mapping its journey towards becoming a net zero corporation is to create what it calls a “Transition Plan”, which the group expects to publish between the years 2025 and 2026.
The Transition Plan will cover TPR’s commitment to achieving a pathway that supports the 1.5 degrees Celsius ambition of the Paris Agreement, with the organisation also set to pivot to align its business model with the challenges and opportunities of a net zero economy.
TPR has outlined a number of interventions that will be used to provide a 98% fall in emissions by 2029 and 2030 from baseline figures from 2017 to 2018. However, due to the shortfall, the organisation will need to purchase carbon removals for the remaining 2% of emissions.
Below is a breakdown of the measures that are set to be introduced by TPR to reduce its emissions.
2024 to 2025
- Variable Refrigerant Flow (VRF) air conditioning system used in reverse to heat buildings, excluding conference room and meeting rooms.
- Installation of additional VRF to include conference room and meeting rooms.
- Reduction of operating temperature of offices by one degree as a short-term measure before gas displacement.
2024 to 2025 and 2025 to 2026
- Installation of occupancy sensors in rooms, with lights to be turned off when rooms are empty as default, and to automatically dim in response to natural light levels.
2024 to 2025 and 2026 to 2027
- Complete an audit to assess energy demand of IT equipment out of hours and switch to automated shut down across certain times to conserve energy.
- Offer carbon literacy training for staff and internal campaigns for sustainable behaviours.
2024 to 2025 and 2027 to 2028
- Improve building management systems, allowing for effective management of building energy consumption.
2024 to 2025 and 2029 to 2030
- Reduce business travel by phasing out the use of domestic flying for business travel and switching to rail services, alongside an overall 35% reduction in business travel demand through the consideration of increased hybrid attendance at events.
Ceri Thayer, interim chief operating officer, said: “Our aim is to help the pensions market manage the transition to a net zero economy, and this report shows how we too are cutting carbon emissions.”
