Carbon Reduction Plan – 2024 – 2050

Executive Summary

The Money Carer Foundation is committed to reducing its carbon footprint over the next five years and achieving Net Zero by 2050 and, optimistically, before 2040. Our plan aligns with the UK government’s carbon reduction guidelines. It focuses on practical steps we will take as a business to minimise environmental impact in the economic environment in which we operate and provide services.

Our organisation does not own the office space we occupy, nor does it control the utility (electricity only) provision within the shared premises. We are limited to implementing a policy and plan that will reduce the carbon emissions from our day-to-day operations within our managed office space, pay Climate Change Levies where appropriate, and support ‘green offsetting’.

The building owner has their own carbon reduction policy, and the office complex is currently undergoing major refurbishment to further enhance its energy reduction credentials. We are predominantly an administration-based business, with no vehicle fleet, whose main operations require extensive interaction with the Department for Work and Pensions (DWP) on behalf of our clients. These interactions largely require the use of the postal system, and we acknowledge the carbon footprint associated with this. We cannot change the operational requirements of the DWP, but we are holding discussions in an attempt to migrate to digital interaction. In the meantime, we endeavour to reduce the carbon footprint of the operations associated with the manual interaction.

Reporting and Transparency

Our policy and will be reviewed and updated annually in line with recommended guidelines. We will publish annual carbon reduction reports and maintain transparency with stakeholders about achievements and challenges, and will adjust strategies based on performance data and feedback.

We will regularly monitor key performance indicators (KPIs) for energy use, waste management, and emissions. We commit to quarterly internal reviews, and an annual external audit will be undertaken to ensure compliance and track progress.

Commitment to Achieving Net Zero

The Money Carer Foundation is committed to achieving Net Zero by the target year 2050. We understand the increasing urgency in the world to decarbonise and fully endorse and support the UK’s plan.

Baseline Carbon Footprint

The Baseline Carbon footprint was established in June 2024. These figures are:

These figures will be used to identify any major sources of emissions e.g. office energy use, business travel, supplier activities and allow us to establish ongoing plans for further reductions for the next reporting year.

Emission Reduction Targets

For the current reporting year (to December 2024), Scopes 1, 2 and 3 will be the same as the baseline year reported above. We have adopted the following carbon reduction targets:

Next 3 years to the end of 2027: Target of 40% Carbon reduction.

Period to 2030: Target of 60% Carbon reduction.

Period to 2035: Target of 75% Carbon reduction, and

Period to 2040: Target of 100% Carbon reduction to Net Zero.

These are ambitious targets, but we are ambitious and recognise the urgency and need to reduce carbon outputs. Our biggest challenge is the reduction in dependence on manual paper requirements. Moving to a digital solution will have a dramatic and immediate reduction affect.

Implemented Actions

Significant investment in our proprietary software system (Monika) which has enabled The Money Carer Foundation to be a predominantly digital organisation. Where possible, correspondence in and out of the organisation is electronic including the secure storage of documents using Microsoft cloud-based Azure servers.

Switch to energy-efficient lighting and appliances. Utilise motion sensing light switches and turn themselves off after a period of time. Optimize heating, ventilation, and air conditioning (HVAC) systems for office-hour occupation. Switch to on-demand boiling water for refreshments. Switch from bottled water fountain to filtered tap water, and plastic single use-cups to reusable cups.

Recycle toner and ink cartridges, and encourage double-sided, monochrome printing where possible.

The company already partners with shredit.com who provide a comprehensive sustainability and recycling process in respect of paper and plastic based office waste to manage the company’s exposure in this area.

Two of the organisation’s directors have switched to electric vehicles.

Ongoing Actions

Implement staff training programs on further carbon reduction. Promote enhanced energy-saving practices within the office including switching off all electrical equipment at the mains or, where the device requires it to retain state, ensure the device is switched to standby mode.

Improve the volume of paper-based correspondence received and sent to the DWP in our roles as Corporate Appointee. There is a clear opportunity for both organisations to collaborate using the integration of existing APIs. A meeting with the DWP Digital Transformation team has taken place to discuss and progress this.

The organisation has a pending launch of our biometric payments cards which will be used by Money Carer’s vulnerable clients and their carers. The cards will be made from modern recyclable materials and, additionally, where a client only needs to make transactions online and will not require a physical card, a virtual card will be substituted accordingly.

Future Actions – Office Stationery

Switch to recycled paper in all our printers and recycled envelopes where feasible. Develop a green procurement policy to ensure we source only eco-friendly office supplies and services.

Future Actions – Waste and Recycling

Implement a comprehensive recycling program and minimise paper usage through further digitalisation.

Future Actions – Travel and Transport

Promote telecommuting and virtual meetings. Encourage the further use of public transport and carpooling. The Money Carer foundation encourage carpooling for its staff members which has an incentive of a car-parking space at its head office location and this measure will be further encouraged in conjunction with a move to hybrid-working being introduced to more team members.

Future overseas air travel will be provided with carbon offsetting where provided by airlines used.

Future Actions – Continuous Improvement

We will continue to explore new and evolving technologies for further carbon reduction and stay updated with industry best practices and regulations. KPIs will be introduced at manager level for delivery across teams and performance will be measured on a quarterly basis and included in future Company Annual Reports.

Conclusion

The Money Carer Foundation is dedicated to achieving significant carbon reductions over the next five years. Through comprehensive planning, continuous monitoring, and active engagement with stakeholders, we aim to create a sustainable and environmentally responsible business model.