November ESG News
1 Dec 2023
1 Dec 2023
November has been a particularly busy month in terms of ESG activity both for LDC and for companies across our portfolio, many of which continue to make progress in embedding ESG principles into their strategies. Here is a snapshot of this month’s developments.
Boston Energy: Supporting the UK’s transition to net zero
Boston Energy, the Beverley-based wind energy technical services provider, has been awarded a multi-million pound contract to support Dogger Bank Wind Farm’s installation programme. Once fully operational in 2026, the Dogger Bank Wind Farm will be the world’s largest wind farm, capable of powering up to six million UK homes. This contract represents the largest ever single award in the offshore wind sector for technical manpower services.
Blis: Taking strides towards decarbonisation
Blis, the London-based omnichannel advertising platform, has announced that its near-term target for carbon reduction has been validated by the Science Based Targets initiative (SBTi). The UN-backed global body has validated Blis’ aim to reduce its carbon footprint by 42% by 2030. This target is part of Blis’ sustainable future plan, which outlines how it will reduce its carbon footprint by 90% by 2050.
This month Blis also finalised a commercial agreement with data-led solutions provider Scope3. This agreement will help Blis to decarbonise media and advertising and license the company’s carbon emissions data.
The Barrister Group: Making law more accessible
The Barrister Group, the UK-based tech-enabled legal services company, alongside other barrister chambers from across the country, is designing a more flexible and affordable route into law, through plans to introduce barrister apprenticeships in the new year. With the group’s new scheme, students will be able to earn while they learn and potentially qualify to practise at the bar debt-free. The group plans to launch the full apprenticeship scheme in time for the 2024/25 academic year following a review by the Bar Standards Board and Bar Council. It’s hoped it will make it easier for students from a more diverse range of backgrounds to build careers in law.
We also announced our partnership with UK-based consultancy firm Seismic to support our portfolio companies. Seismic supports companies to measure, manage and communicate ESG performance using the B Corp framework and develop strategies that achieve business objectives and support B Corp certification. Our portfolio will now get bespoke advice on working towards B Corp status as Seismic’s experts will help our businesses to map out and evolve into more sustainable versions of themselves, during and beyond our partnerships with them.
Beyond the portfolio
Alongside our support of ESG initiatives in our portfolio, we’ve continued to support charitable causes across the UK and strengthened our commitment to building strong partnerships.
This month, we were recognised for our commitment to incorporating sustainability and climate-related opportunities into our investment approach. LDC was named by Real Deals in its Future 40: Climate Change Champions list, as the judging panel commended our continued commitment to sustainable investing and contribution to a more sustainable future.
And as we celebrate four years supporting The Prince’s Trust, we took home the prestigious ‘Partner of the Year’ award at The Prince’s Trust Partnership Awards, in recognition of our unwavering support for UK’s leading young person’s charity.
We also hosted a networking event in partnership with the charity’s Brilliant Breakfast initiative, led by LDC Investment Manager Klara Klarowicz. The initiative, with a £5,000 year-on-year donation from LDC, raises funds to support young women who are facing adversity, helping them to change their lives for the better and setting them on a path to fulfilling employment.