At AMG, we are committed to long-term environmental sustainability and reducing our impact on biodiversity through an evolving environmental impact management system in which we track, disclose, and provide reduction targets for our carbon emissions, and are dedicated to remaining good stewards of our natural environment. While we are an investment management company that does not have the direct environmental impact of other industries (such as manufacturing, energy, or retail businesses), we are committed to using natural resources efficiently and optimizing our energy use. AMG regularly engages with shareholders and other external stakeholders on environmental topics and AMG’s efforts and initiatives in this area; AMG endeavors to operate at best-practices levels in an evolving landscape. Our Environmental and Green Procurement Policy sets forth principles and guidelines that incorporate AMG’s commitment to environmental protection into our business processes and the management of our properties and facilities. In this regard, we have adopted the following initiatives and programs to increase environmental awareness among our employee base and also reduce our corporate impact on natural resources where possible:
- Reducing usage of paper and plastic, supported by our global recycling programs along with a usage reduction of paper products through a reduction of printers in our offices
- Reviewing our energy suppliers and opting to switch to renewable energy wherever possible, including through our transition to 100% renewable energy sources at multiple office locations
- Prioritizing the use of energy-efficient office equipment, including the implementation of energy-efficient lighting, setback thermostats, and water filtration systems throughout our global offices, as well as energy-conserving building materials
- Lowering the environmental impact of employee commuting and travel by establishing hybrid and flexible work arrangements, including a Work from Home Policy, and investing in telecommuting and telepresence equipment; in 2022, we installed EV charging stations at our largest principal corporate office and offered charging on a complimentary basis
- Monitoring and disclosing our greenhouse gas emissions and consideration of environmental risks, including through our annual participation in CDP’s climate change disclosure
- Participating in the carbon and clean energy credit markets in instances where we are unable to control our energy supplier
As a firm, we also seek to increase the development and awareness of socially and environmentally responsible procurement, and to align with businesses that not only deliver superior quality goods and services, but also operate in ways that are respectful of the rights of their employees and in ways that preserve natural resources and promote environmental sustainability. To achieve this objective, our Environmental and Green Procurement Policy includes the following principles to guide our procurement activities:
- Evaluate recycled-content, biodegradability, and safety of materials in all office-related purchasing decisions
- Evaluate the social and sustainability practices of vendors, and prioritize relationships with vendors that share our commitment to long-term environmental protection
- When evaluating prospective vendors, prioritize partnering with businesses that provide their employees a safe work environment and equal employment opportunities
- Seek partnerships with vendors who not only meet high standards and exhibit continuous improvement, but also conduct their business operations in accordance with all applicable laws and regulations
One of our principal offices, in Prides Crossing, Massachusetts, is located on 90 acres of land, the vast majority of which is maintained in its natural forested state with many walking trails accessible to the public.
Greenhouse Gas Emissions
Since 2017, AMG has completed an annual inventory of our global greenhouse gas emissions to support the monitoring, implementation, and performance of our environmental sustainability strategy. AMG committed to, and achieved, a five-year emissions reduction plan, including a 5% target reduction in Scope 1 and Scope 2 emissions. AMG participates in CDP’s Climate Change Disclosure program.
Our compilation of direct and indirect GHG emissions data is collected, assessed, and reported in compliance with the principles and guidance of the World Resources Institute and the World Business Council for Sustainable Development’s Corporate GHG Protocol. For 2020, 2021, and 2022 emissions, we obtained third-party attestation from Apex Companies under the verification standard established in ISO 14064-3 Second Edition 2019-04: Greenhouse gases — Part 3: Specification with guidance for the verification and validation of greenhouse gas statements. Our emissions are audited on a biannual basis.
In 2020, 2021, and 2022 our net direct greenhouse gas emissions (Scope 1) were 280, 293, and 601 MT CO2e, our net indirect greenhouse gas emissions (Scope 2 location-based and market-based) were 649, 502, and 396 MT CO2e, and our gross indirect emissions (Scope 3), resulting from business travel, were 969, 527, and 450 MT CO2e, respectively. Our net total greenhouse gas emissions for Scope 1, Scope 2, and Scope 3 were 1,898, 1,322, and 1,447 MT CO2e for 2020, 2021, and 2022, respectively. AMG’s intensity figure, defined as the ratio of Scope 1 and Scope 2 emissions in MT CO2e per total revenue, was zero for 2020, 2021, and 2022.
Our reported emissions figures include the purchase of renewable energy certificates (RECs), which offset 100% of our US-based Scope 2 emissions from 2018 through 2022. In 2022, AMG committed to purchase carbon offsets beginning in 2023.
Additional information regarding AMG’s greenhouse gas emissions can be found on CDP’s website, www.cdp.net.