Marex is delighted to publish its second Environmental Social and Governance (ESG) Report, covering the full year 2021. The report demonstrates how, as a firm, we continue to apply our knowledge of global energy and commodity markets to contribute to addressing global environmental and social challenges.
We are particularly excited about the potential of our work with OxCarbon, Kumi Analytics and the Global Mangrove Trust. This is an innovative project, dedicated to developing a scalable, verifiable carbon offset and sequestration scheme utilising satellite technology and AI to validate credits in a cost-effective manner. Following a successful pilot programme in 2021, we now expect the project to generate its first verified certificates in Q4 of this year.
Marex continues to focus on areas where we think we can do more: increasing diversity and inclusion in our workforce, improving our employee wellbeing and learning and development as well as improving our processes and controls across our businesses. We are also in the process of implementing the recommendations of the Task Force on Climate-related Financial Disclosures. This work is helping us understand the climate-related risks and opportunities for our business, so we can manage and respond to them robustly. The first outputs of this work are outlined in this report and we will continue to progress this during 2022.
Carla Stent, Chair at Marex commented: “We are proud of what we have started but remain acutely aware that there is much to do to address the multiplicity of issues that the world faces as highlighted by the COP26 discussions in 2021 and the latest IPCC report. Material change to limit global warming to 1.5°C above pre-industrial levels will not happen overnight and will require the combined efforts of consumers, finance, regulators, and the media. But we believe that our efforts are unlocking positive changes that will generate lasting outcomes in our markets.”
Ian Lowitt, Chief Executive at Marex added: “We continue to make good progress reviewing our own operations, where we are committed to achieving carbon neutrality in 2022. Our commitment goes beyond this current goal, and I am personally extremely dedicated to enhancing our ESG track record, in particular, to develop our CSR efforts and improve our societal impact in the countries in which we operate.”
