Eaton Vance has announced its commitment to offset its 2019 carbon emissions, an indicator of an ongoing commitment to the environment and corporate responsibility.
The firm said that its greenhouse gas (GHG) emissions across the firm and for each of its locations included carbon emissions totalling 11,243 metric tonnes across its office electricity use, business travel and employee commuting.
The breakdown was 52% for its global office energy footprint, 39% for business travel and 9% for employee commuting, the firm said.
When combined, the company's total emissions amount was equivalent to GHG emissions from 2,429 passenger vehicles driven for one year, 1,297 energy homes for one year, 149 tankers filled with gasoline or 1,433,844,774 smartphones charged for a year.
“Once the totals were identified, Eaton Vance chose to partner with Carbonfund.org to neutralize its carbon emissions. As part of this effort, it is offsetting its GHG emissions by supporting the Envira Amazonia Tropical Rainforest Conservation Project, which covers approximately 490,000 acres of pristine rainforest in Brazil and the Amazon River Basin, an area long referred to as the "Earth's lungs.”, Reed Montague, ESG research analyst at Calvert Research and Management, a subsidiary of Eaton Vance, said.
“The project intends to mitigate more than 12.5 million tons of carbon dioxide-equivalent emissions, while preserving local habitat, as it seeks to create a more sustainable future.
“Eaton Vance is committed to carbon neutrality and is pleased to be able to demonstrate its commitment to the environment, sustainability and corporate social responsibility. Furthermore, it plans to continue to evaluate its current business practices and policies to reduce its annual GHG emissions.”