04 May 2022, London
TAM Asset Management Ltd (TAM), the UK-based discretionary investment manager, has stepped up its commitment to combatting global warming by becoming one of the first discretionary fund managers to be awarded Carbon Neutral Plus status by Carbon Footprint Ltd, and offering its clients the ability to offset their carbon footprint through the launch of its Client Carbon Footprint Commitment.
The Client Carbon Footprint Commitment provides TAM’s General Investment Account (GIA) and Individual Savings Account (ISA) investors with the opportunity to offset their carbon footprint – currently 6.5 tonnes of carbon per person in the UK – for each year they are invested with the company.
On behalf of each client that opts into the initiative, TAM will purchase the necessary amount of carbon credits to offset their average annual carbon footprint through the Verified Carbon Standard (VCS) Global Portfolio project, which invests in a mix of high-quality VCS projects from across the globe, with a particular focus on supporting developing nations. The cost for this is currently £58.50 per person1.
Participating clients then receive a personalised certificate each year outlining their contribution to the VCS Global Portfolio project and illustrating the positive impact they have made to the environment, which might include funding renewable energy generation projects or carbon avoidance programmes, for example.
Alongside the Client Carbon Footprint Commitment, TAM has also become a certified Carbon Neutral Plus organisation, offsetting an additional 25% of its total annual carbon footprint. The company is one of the first discretionary fund managers to receive the accreditation.
The accreditation was awarded after Carbon Footprint Ltd, the Quality Assurance Standard approved provider of carbon footprint calculators, independently audited TAM’s annual carbon emissions. In alignment with being a Carbon Neutral Plus company, TAM is supporting tree planting projects in the UK and VCS certified reforestation projects in South America to offset its emissions.
Lester Petch, chief executive officer at TAM Asset Management, says: "We understand the importance of tackling climate change and sustaining our environment for future generations – a key concern we share with our client base. As investors, it is critical we become part of the solution, and achieving carbon neutrality is pivotal to accomplishing this mission. While we are honoured to be one of the first discretionary fund managers to be awarded Carbon Neutral Plus status, we hope this sets a precedent and encourages other key players in our industry to follow suit.
“As for our new client-facing carbon offsetting initiative, we are hugely excited to empower clients to contribute meaningfully towards mitigating global warming. They have shown a growing appetite to reduce the impact of their investments on the environment, and this simple and effective initiative provides them with a material solution.”
1The average footprint and costs to offset each tonne are likely to fluctuate, so payments may vary from year to year.
For more information and/or interview opportunities please contact:
Kaso Legg Communications
+44 (0) 203 995 6670
About TAM Asset Management
TAM is an award-winning discretionary investment manager founded in 2004 by CEO Lester Petch and is now majority owned by a management team of experienced investment professionals. With offices in the UK, Spain and Mauritius, they offer onshore and offshore investment management solutions to clients worldwide. For more information visit www.tamassetmanagement.com
How does the Client Carbon Footprint Commitment work?
Participating in the Client Carbon Footprint Commitment is a simple and straightforward process.
TAM will review the average footprint and offset costs based on the current government figures and purchase the credits necessary to offset that figure by supporting the VCS Global Portfolio project.
Every payment to the project will then be made annually, every 30 November, based on the current footprint calculation and offset costs each year.
The average individual carbon footprint in the UK is likely to fluctuate, as are the costs to offset each tonne. TAM will write to all Client Carbon Footprint Commitment participants at least 30 days prior to payments being made, to confirm the current footprint and offset costs, and give investors the opportunity to opt out for that year.
Investors will receive a personalised certificate each year that they choose to participate in TAM’s Client Carbon Footprint Commitment which will outline their contribution to the VCS Global Portfolio offsetting project and illustrate the positive impact that their commitment has made to our environment.
This document on its own is not intended as an offer, solicitation or recommendation to use or invest in any of the services or products mentioned in it. The investments and services referred to in this document may not be suitable for all investors and TAM does not give any guarantee as to the performance or suitability of an investment for a retail client. Past performance is not a guide to future returns. The value of an investment and the income from it, may go down as well as up and may fall below the amount initially invested. The value of investments denominated in foreign currency may fall as a result of exchange rate movements. Any opinions, expectations and projections within this document are those of TAM and do not constitute investment advice or guaranteed returns. TAM Asset Management Ltd is authorised and regulated by the Financial Conduct Authority, No. 208243. Registered in England, No. 04077709. Registered Office: 10th Floor, City Tower, 40 Basinghall Street, London, EC2V 5DE.
TAM Asset Management steps up climate commitment with carbon offsetting initiatives