In line with Portfolio Partners' reputation for forward-thinking, the company has today announced a partnership with CO2 Australia to mitigate its greenhouse gas emissions by planting mallee eucalyptus trees.
In line with Portfolio Partners' reputation for forward-thinking, the company has today announced a partnership with CO2 Australia to mitigate its greenhouse gas emissions by planting mallee eucalyptus trees.
Managing director Craig Bingham said the partnership is "an important endorsement of our ongoing program of sustainable business practices, including limiting our own impact on the environment. We have opted for tree plantation because it creates jobs and has sound conservation benefits, in addition to converting harmful greenhouse gases to oxygen."
Portfolio Partners has already established itself as a leader in the Australian market for sustainable investment, being the first Australian Fund Manager to sign the United Nations "Principles for Responsible Investment" and launching its own Sustainability Fund in 2006. The same year, it was awarded with Australian Business Awards in the categories of Recommended Employer, Environmental Awareness and Innovation.
The company conducted a review of its carbon emissions in 2006 to gain a better understanding of its own "carbon footprint". Through the tree planting program, Portfolio Partners aims to compensate for the carbon output of its use of non-renewable sourced energy from its buildings and business travel across all its operations. The company will also continue to reduce emissions by the efficient use of energy, encouraging staff to walk or cycle to work and by actively selecting environmentally accredited suppliers.
Mr Bingham said the program, which will be managed by CO2 Group, "...sets an example for our employees, clients and others in the industry to make decisions about their own environmental impact. We all have the power to make a difference, and I am pleased to continue Portfolio Partners' commitment to environmental stewardship through this program. Our decision to enter into this partnership is a significant step and one we have not entered into lightly. We believe climate change is an important environmental issue facing the world, and as a forward-thinking company we are playing our part in addressing this challenge and encourage our clients to follow suit."
Managing director of CO2 Australia, Andrew Grant stated: "we are delighted to be chosen by Portfolio Partners to provide offsets. Their commitment to the program highlights the growing corporate momentum in voluntary action to reduce greenhouse gas emissions."
Under the program, CO2 Australia will establish long term (150 years) mallee environmental plantings on agricultural land. The mallee environmental plantings will be integrated into existing farming and grazing operations of the landowner.
-ends-
For further information on this news release, please contact:
Craig Bingham
Managing Director
Portfolio Partners
Telephone: (03) 9220 0315
Mobile: 0403 499 901
Andrew Grant
Managing Director
CO2 Australia
Telephone: (03) 9787 9766.
Notes to editors:
Portfolio Partners
Portfolio Partners is an Australian fund management company responsible for managing over A$10 billion across a range of innovative trusts and client mandates. Since inception in 1994, the company has developed a strong reputation as a leading specialist in the active management of Australian assets.
Portfolio Partners approach to investment management reflects our own corporate values - to be agile, innovative, passionate and insightful.
We believe companies that focus on sustainability issues not only contribute to a better society, but their businesses become more viable as a result. As a result, we are integrating sustainability, including environmental, social and governance issues, into our investment process.
Portfolio Partners is owned by London-based Morley Fund Management Group - one of the UK's largest fund management companies and is part of the international investments and insurance group Aviva plc.
Funds managed by Portfolio Partners currently hold shares in CO2 Australia.
CO2 Australia
The CO2 AUSTRALIATM Carbon Sequestration Program is a unique program initially concentrated in New South Wales under which the CO2 Group of Companies establishes long term (150 years) mallee environmental plantings on agricultural land. These plantings are permanent dedicated carbon sinks.
CO2 Australia then measures the plantings to determine the amount of carbon dioxide they have sequestered.
CO2 Australia is also accredited under the Federal Government's Greenhouse FriendlyTM Scheme, and is the only company in the marketplace accredited for sequestration activities in both schemes.