Internal Environmental Management - 2012 Technical Report of the Pictet Group
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Internal Environmental Management 2012 Technical Report of the Pictet Group
The Pictet Group
"An awareness of our responsibilities
has always been a factor that has
ensured Pictet's stability and longevity."
Montreal
Nassau
Tokyo
Osaka
Taipei
Hong Kong
Singapore
Amsterdam London
Basel Luxembourg
Barcelona Madrid
Brussels Milan
Florence Paris
Frankfurt Rome
Geneva Turin Dubai
Lausanne Zurich Tel AvivContents 5 Carbon footprint – General overview
Variation from 2007-2012
Emissions breakdown
Future plans
9 Internal technical projects
Assessment of previous projects (2008-2012)
9 Carbon offsetting
10 Transport
12 Buildings
Electricity
Heating
Paper
Waste
Water
Environmental Management Report 2012 3Carbon footprint For the sixth consecutive year, Pictet has determined its Group carbon footprint
using a methodology that complies with ISO 14064-1 and is certified by the
– General overview
Swiss Association for Quality and Management Systems (SQS).
The VfU* method is used for collecting data on direct emissions in the areas
depicted below:
Building construction
Visiting clients
VfU
Corporate car fleet
Business travel
Supplier transportation
Fuel (gas and heating oil)
Office supplies Waste
Electricity
Staff commuting Water
Paper
Computing equipment
Furniture
*VfU = Verein für Umweltmanagement in Banken, Sparkassen und Versicherungen e.V. (www.vfu.de)
The conversion factors used for paper and transport in the VfU method were
updated in 2011. Nevertheless, we have retained the old conversion factors for the
current carbon footprint so that a comparison can be made with previous results
and to allow us to assess the progress we have achieved since 2007, the benchmark
year, and with respect to the targets specified.
Using the updated conversion factors would lead to a situation (fig. 2) where
emission levels would be lower than levels calculated using the old conversion
factors and targets specified in 2007. However, the reduction in the levels of
emissions is mainly accounted for by a decrease associated with "cleaner" transport.
Variation from 2007 – 2012 In absolute terms during 2012, the Group produced 10,701 tonnes of CO2, which
is an increase of more than 18% compared to 2007. However, it should be borne
in mind that over the same time period there was a 31% rise in the number of
employees (including those on fixed-term contracts and external partners) and
an 18.3% rise in the surface area occupied.
FIG. 1: PICTET GROUP'S CO2 EMISSIONS
2007 2008 2009 2010 2011 2012
CO2 emissions
[t. CO2 ] 9,057 9,524 7,830 9,254 9,628 10,701
CO2 emissions
Per employee 3.00 2.77 2.12 2.58 2.59 2.71
[t. CO2 / empl.]
-8% -23% 22% 0.5% 4.5%
Change in CO2 emissions per employee and per year (in %)
30 –
20 –
10 –
0 –
-10 –
-20 –
-30 – 2007/08 2008/09 2009/10 2010/11 2011/12
5Adjusted for the number of employees, CO2 emissions rose by 4.5% between 2011
and 2012. This rise is mainly accounted for by the increase in energy consumption
associated with the Group's buildings and technical infrastructure. In addition,
more accurate data have been gathered on emissions in Dubai.
Compared with 2007 and adjusted for the number of employees, the CO2 emissions
fell by 9.7%. Thus, the target to reduce emissions by 12% by 2012 was not achieved.
However, if the level of emissions is calculated using the new conversion factors,
the 21% reduction is significantly larger than the target reduction.
FIG. 2: CO2 EMISSIONS AND TARGET REDUCTIONS FOR THE PICTET GROUP
[t. CO2/empl.]
3.5
3.0 -5%
-14.0% -13.6% -12%
-7.7% -9.7%
2.5
-21.0% Reduction target
-29.2%
-25.9%
2.0 -40%
1.5
1.0
0.5 Emissions with VfU 2007 conversion factor
Emissions with VfU 2011 conversion factor
0.0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Emissions breakdown In 2012, the increase in energy consumption associated with the Group's buildings
and technical infrastructure generated 925 additional tonnes of CO2 compared with
2011. Meanwhile, CO2 emissions associated with paper consumption rose by 58
tonnes. Although, as in previous years, the carbon footprint associated with water
consumption has remained stable (around 30 tonnes of CO2 per year), the carbon
footprint associated with waste increased slightly by 26 tonnes de CO2. There was a
slight increase in the CO2 emissions associated with business travel (65 tonnes),
which suggests that the number of trips made has stabilised. The efforts made to
raise awareness among staff regarding this issue have therefore borne fruit.
6 Environmental Management Report 2012FIG. 3: BREAKDOWN OF PICTET GROUP'S CO2 EMISSIONS
CO2 Emissions [in t.] 2007 2008 2009 2010 20111 20112 20121 20122
Energy 3,465 3,619 3,087 3,342 3,140 3,188 4,065 4,103
Paper 411 410 351 272 187 286 245 375
Waste 151 170 171 167 176 161 202 185
Water 24 25 27 30 31 61 30 59
Business trips 5,007 5,300 4,201 5,443 6,095 4,553 6,160 4,645
TOTAL 9,057 9,524 7,838 9,254 9,628 8,249 10,701 9,366
1
Pictet Group CO2 emissions [in tonnes] using VfU 2007
2
Pictet Group CO2 emissions [in tonnes] using VfU 2011
Overall, the level of CO2 emissions associated with the Group entities has fallen,
with emissions down for 11 out of its 20 entities. However, it is worth noting that
the average for the Pictet Group has risen; this is mainly due to the significant rise
in the emissions for the Dubai office, where power is generated using fossil fuels.
FIG. 4: EMISSIONS ASSOCIATED WITH THE GROUP ENTITIES IN 2012 [TONNES CO2/EMPL.]
Paris 1.41 Hong Kong 4.61
Luxembourg 1.48 London 5.23
Geneva 1.51 Turin 6.39
Basel 1.62 Nassau 7.29
Lausanne 2.28 Rome 7.55
Pictet Group average 2.71 Madrid 9.31
Tokyo 3.33 Singapore 9.70
Florence 3.49 Milan 9.70
Frankfurt 3.71 Barcelona 11.25
Montreal 4.47 Dubai 96.11
Zurich 4.58
In June 2012, the Luxembourg entity, which is one of the largest in the Group,
moved into new premises. The move will allow use of workspace to be optimised
and reduce energy consumption by bringing all the employees together in one
building. In addition, the new building complies with the latest regulatory
requirements on energy-efficiency and environmental design. An overall reduction
in the Luxembourg office's carbon footprint has already been confirmed.
7Future plans In order to achieve the targets set at Group level, Pictet will stick to its current
strategy and focus on the four axes set forth in the 2010 report. The efforts
aimed at reducing business travel will need to continue. Even though the number
of trips has stabilised, it is here that there is most scope for action to reduce CO2
emissions still further.
A new centralised travel reservation tool has been in place since 2012, which
Monitoring the carbon footprint reliably
allows more reliable and accurate data to be gathered concerning business
travel. Progress is being made on installing energy meters at the Group's entities
around the world (meters have now been installed at 11 out of 19 entities).
The Pictet Group is making every effort to improve the systems used to monitor
the carbon footprint of its entities abroad, especially when relocating or carrying
out office refurbishment projects.
Coordinated and effective awareness raising among staff
Awareness-raising sessions about sustainable development were held for staff
throughout 2012. Furthermore, a progress report was presented to staff in June.
An organisational framework at Group level
Since January 2012, a new organisation structure has been in place within the
Real Estate & Logistics department with a team dedicated to the Group's
environmental policy. The team monitors the progress of efforts in Switzerland
and at entities abroad, as well as drawing up action plans and raising awareness.
Limiting business travel by air
As a result of the many measures taken since 2007, significant improvements
have been made to the video-conferencing systems and services, especially in
terms of the quality of the installations. The Group is therefore trying to
promote alternatives to travel, while recognising that some trips, particularly
those undertaken in order to visit clients, cannot be avoided and that it is
difficult to reduce the amount of travel overall. The Pictet Travel Office is also
endeavouring to encourage employees to use trains rather than planes whenever
possible.
8 Environmental Management Report 2012Internal technical projects When drawing up its environmental policy, Pictet decided to implement
new internal technical projects over the years with a view to cutting the energy
consumption of buildings and lowering its CO2 emissions.
These projects enable important values to be communicated internally.
Assessment of previous FIG. 5: SUMMARY OF RESULTS IN FIGURES
projects (2008-2012) Consolidated results actually
achieved versus the initial targets Solar thermal Heat transfer Solar energy Total
(figures in brackets): cooling system to AC48 since 2010
since 2008 since 2009
290 632 1.4 923.5
Tonnes of CO2 saved
(70/year) (200/year) (n/a)
87,256 201,987 - 289,243
Equivalent in litres of heating oil
(24,000/year) (60,000/year) -
42,017 - 114,721 156,739
kWh
(n/a) - (33,000/year)
Financial gain [CHF] 80,930 175,692 (n/a) 256,622
These result confirm the extent to which the technical projects do contribute to
limiting the Pictet Group's carbon footprint.
Carbon offsetting Rather than systematically striving for the "Carbon Neutral" label, Pictet efforts are
focused mainly on reducing the Group’s carbon footprint, as part of a consistent
and effective environmental policy.
However, in spite of all these efforts, Pictet has come to realise that it will
not be able to reduce its carbon emissions below a certain baseline. The Group has
therefore decided to offset at least 50% of its CO2 for the period from 2008 to
2013 by buying 34,000 tonnes in verified and validated (VER+) carbon credits
from an exemplary project in India (see 2009 Environmental Management
Report). Moreover, consideration is already being given to the offsetting strategy
for the period after 2013.
9Transport FIG. 6: BUSINESS TRAVEL
2007 2008 2009 2010 2011 2012
26,520,751 km 29,449,200 km 22,922,620 km 30,165,323 km 33,581,272 km 35,489,707 km
8,789 km/empl. 8,568 km/empl. 6,212 km/empl. 8,414 km/empl. 9,049 km/empl. 8,989 km/empl.
1.66
1.54
1.14
1.52
1.64
1.56
[tonnes CO2 /employee]
Compared with 2011, the total distance covered by Pictet Group employees
when on business trips was up 5.6%. However, adjusted for the number of
employees (km/employee), there was a 0.66% reduction. While confirming that
2009 was an exception, the data show that the number of business trips made
by employees has fallen. Moreover, it is worth noting that in 2012 the CO2
emissions associated with business travel accounted for 57% of the Group's
total carbon footprint compared with 63% in 2011 and 58% in 2010.
FIG. 7: CARBON FOOTPRINT ASSOCIATED WITH BUSINESS TRAVEL [KG CO2/EMPLOYEE]
[kg C02 /employee] 2011 2012
3,000
-9.4%
2,500
2,000 -6.0%
-8.5%
1,500
1,000
500
0
Group Switzerland Outside Switzerland
The campaign launched in 2012 to raise awareness among employees about
business travel has been successful, as the CO2 emissions associated with
business trips were down compared with 2011, both for the headquarters and
the Group entities abroad. These efforts will have to continue in 2013, so that
the Group's carbon footprint can be stabilised in the medium term.
Nevertheless, the Group is aware that business travel cannot be reduced below
a certain threshold. Indeed, these trips are still indispensable and fundamental,
partly to ensure contact with our clients, which remains one of our priorities,
and partly to ensure that employees meet face-to-face, thus maintaining their
ability to work together.
10 Environmental Management Report 2012FIG. 8: TREND IN THE NUMBER OF AUDIO AND VIDEO-CONFERENCES WITHIN THE PICTET GROUP
Number of audio and video-conferences
13,000
12,079
12,000
11,000 +39.5%
10,000 Extrapolated readings
Actual readings
9,000 8,657
8,000
7,000
6,343
6,000
5,032
5,000
4,000
2,856
3,000
2,000 1,561
1,000
0
2007 2008 2009 2010 2011 2012
Since 2010, improvements to the system used for managing audio and video-
conferences have allowed the number of sessions to be counted more accurately.
The data for the years from 2007 to 2009 have been obtained by extrapolation.
The data show a significant increase in the number of video-conferences, with a
36.5% rise between 2010 and 2011 and a 39.5% rise between 2011 and 2012. This rise
is partly due to a new reservation system (Tandberg and Lotus Notes) introduced
during 2011, which makes it easier to book the video-conferencing systems.
In 2011 and 2012, internal organisational changes aimed at optimising the
assistance given to users (technical help desk, additional videoconferencing
equipment, online user manual, etc.) were put in place. Further spending on
infrastructure is also planned.
11Buildings FIG. 9: ELECTRICITY
2007 2008 2009 2010 2011 2012
Electricity 22,192,031 kWh 24,177,133 kWh 25,020,992 kWh 25,049,438 kWh 23,928,370 kWh 24,516,732 kWh
7,354 kWh/empl. 7,034 kWh/empl. 6,780 kWh/empl. 6,987 kWh/empl. 6,448 kWh/empl. 6,210 kWh/empl.
0.66
0.58
0.50
0.59
0.55
1.56 0.75
[tonnes CO2 /employee]
In absolute terms, the Group's electricity consumption rose by 2.4% between 2011
and 2012. However, adjusted for the number of employees, it actually fell by 3.6%.
Between 2011 and 2012, electricity consumption outside Switzerland fell by
2.8%. Conversely, the carbon footprint increased considerably, by 50.9%. This is
due to the methods used to generate the electricity consumed by the Group
entities abroad. Whereas in some countries electricity comes from renewable
energy, including hydroelectric power, and has a lower carbon footprint, in
others the electricity comes from fossil fuels and is associated with significant
CO2 emissions.
FIG. 10: TREND IN ELECTRICITY CONSUMPTION [MWH] AND THE ASSOCIATED CO2 EMISSIONS [T. CO2]
[MWh]
2011 2012
30,000 +928.2 [t. CO2]
25,000
+8.3 [t. CO2]
20,000
15,000
+919.9 [t. CO2]
10,000
5,000
0
Group Switzerland Outside Switzerland
12 Environmental Management Report 2012Heating FIG. 11: HEATING
2007 2008 2009 2010 2011 2012
5,728,893 kWh 6,300,057 kWh 4,693,708 kWh 4,673,272 kWh 4,256,292 kWh 4,245,839 kWh
1,899 kWh/empl. 1,833 kWh/empl. 1,272 kWh/empl. 1,303 kWh/empl. 1,147 kWh/empl. 1,075 kWh/empl.
0.49
0.47
0.33
0.34
0.30
0.28
[tonnes CO2 /employee]
In absolute terms, the Group's consumption of fossil fuels was stable. Adjusted
for the number of employees, consumption fell by 6.2%. The associated CO2
emissions were down by 6.6%. The reduction is mainly due to lower energy
consumption at the headquarters building in Geneva. Thus, energy consumption
for the heating systems has stabilised.
Pictet takes advantage of relocations or refurbishment work to improve the
performance of the heating systems (e.g. the Luxembourg office in 2012).
Since 2007, gas consumption at the headquarters building in Geneva has
fallen continuously, and dropped by 21% between 2011 and 2012, even though
a minimum amount is necessary to produce hot water during the winter.
FIG. 12: GAS CONSUMPTION IN GENEVA [MWH]
[MWh]
3,000
2,722
2,500 -27%
1,981
2,000
1,500
1,000 -70% -42% -12% -21%
589
500 344 303 240
0
2007 2008 2009 2010 2011 2012
13Paper FIG. 13: PAPER
2007 2008 2009 2010 2011 2012
522 tonnes 520 tonnes 446 tonnes 346 tonnes 238 tonnes 311 tonnes
173 kg/empl. 151 kg/empl. 121 kg/empl. 96 kg/empl. 64 kg/empl. 79 kg/empl.
0.14
0.12
0.10
0.08
0.05
0.06
[tonnes CO2 /employee]
Whereas paper consumption fell by 30% in absolute terms between 2010 and
2011, it increased by a similar proportion between 2011 and 2012. Adjusted
for the number of employees, paper consumption increased by 23%. However,
these figures should be taken with great caution as long as the process used
for collecting data has not been improved.
With a view to reducing paper consumption, existing printers are gradually
being replaced by duplex models as office equipment is updated. The IT depart-
ment is also planning to set recto/verso printing as the default setting for each
workstation equipped with these new printers. In addition, Pictet promotes the
use of documents in electronic format.
14 Environmental Management Report 2012Waste FIG. 14: WASTE
2007 2008 2009 2010 2011 2012
649 tonnes 668 tonnes 695 tonnes 663 tonnes 674 tonnes 879 tonnes
215 kg/empl. 194 kg/empl. 188 kg/empl. 185 kg/empl. 182 kg/empl. 223 kg/empl.
0.050
0.049
0.046
0.047
0.047
0.051
[tonnes CO2 /employee]
Between 2011 and 2012, the amount of waste generated by the Group rose again
(by 30.4%). As a result, the amount of waste per employee rose by 22.5%. The
increase is due to the improved accuracy of the data collected.
During 2012, some 1,500 china mugs were distributed to employees in Geneva,
Zurich and Nassau and made available to all employees instead of cardboard
cups in all the coffee areas.
FIG. 15: LIST OF THE TYPES OF WASTE RECYCLED IN GENEVA IN 2012
Paper 237.318 PE 0.870
Food waste 26.325 Oil 0.780
Coffee grounds 17.920 Tin 0.482
Toner cartridges 4.550 Disks 0.356
Glass 7.261 EPS (air foam) 0.212
Special waste 0.000 Batteries 0.400
IT 3.057 Aluminium 0.040
PET 1.556 Nespresso capsules 0.089
Neon tubes and bulbs 0.000
Voluminous waste 0.750 Total 301.966
FIG. 16: TYPES OF WASTE PRODUCED GENEVA IN 2012
Recycled waste
Total waste produced 61% = 302 tonnes
= 496 tonnes Incinerated waste
39% = 194 tonnes
15Water FIG. 17: WATER
2007 2008 2009 2010 2011 2012
62,878 m³ 67,977 m³ 71,905 m³ 79,607 m³ 81,967 m³ 78,771 m³
20.8 m³/empl. 19.8 m³/empl. 19.5 m³/empl. 22.2 m³/empl. 22.1 m³/empl. 20.0 m³/empl.
0.0078
0.0074
0.0073
0.0083
0.0083
0.0075
[tonnes CO2 /employee]
Overall, water consumption for the Group decreased by 3.89%. The total
volume consumed per employee fell by 9.5%.
Improvements are still being made to the way water consumption at each of
the sites outside Geneva is measured. At the buildings owned or occupied
entirely by Pictet, the measurement methods remain reliable, as mentioned in
previous years.
FIG. 18: TREND IN WATER CONSUMPTION [M3] PER EMPLOYEE IN GENEVA
Water consumption per employee [m3/employee] Number of employees
50 3,000
45 43.3 2,700
40.5
40 2,400
35 2,100
30 1,800
24.8 25.6
25 22.9 22.6 1,500
21.7
20 18.1 16.9 17.2 1,200
16.8 16.0 15.7
15 900
10 600
5 300
0 0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
16 Environmental Management Report 2012LOCVS EN 2012
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