Natural Capital
Strategic priorities
- Improve energy and water efficiency
- Reduce paper consumption and operational waste
- Strengthen environmental stewardship across the Fund’s operations and real estate investments
Committee oversight
Staff Administration and Corporate Affairs Committee (SACA)
Challenges, uncertainties, and disruptive factors
Key challenges
Reducing the Fund’s environmental footprint as its operations and real-estate portfolio expand. This requires sustained improvements in resource efficiency, stronger environmental controls, and reliable measurement of climate-related impacts.
Mitigating factors/opportunities
Measures undertaken to address the challenge
The Fund increased the use of natural lighting and LED fixtures, regularly inspected electrical installations and serviced transformers, stabilisers, and air-conditioning systems to improve energy efficiency. Water use was managed through monitoring, preventive maintenance, and conservation measures. Digital documentation and member service channels continue to reduce reliance on printed records. The Fund also applied sustainable procurement requirements and conducted Environmental and Social Impact Assessments for all real-estate projects undertaken during the year.
Trend during the reporting period
Electricity consumption declined by 8%, supported by increased use of natural and LED lighting, solar power, and improved equipment maintenance.
Water usage declined by 3%, reflecting continuous monitoring and resource-conservation measures, although further interventions are needed to achieve greater savings.
Paper consumption fell by 41.6%, reversing the previous year's 116% increase. The improvement reflects the transition towards a paperless office and increased use of digital channels, although performance remains below the Fund's 95% long-term reduction target.
KPI
Reduce annual electricity and water consumption by 15%, while progressing towards the Fund’s 95% paper-reduction target.
Outlook
In FY2026/27, the Fund will intensify its resource-efficiency initiatives, targeting annual cost savings of 15% on energy and water bills. Priorities include expanding solar and LED lighting, maximising natural lighting, improving equipment efficiency, strengthening consumption monitoring, and addressing water inefficiencies.
The Fund will also work towards its 95% paper-reduction target by expanding digital documentation, e-statements, and paperless workflows. It will maintain 100% diversion of building waste to approved disposal channels, while introducing measurement at source to establish a baseline and support recycling.
In parallel, the Fund will complete a baseline assessment of Scope 1, 2 and 3 greenhouse-gas emissions and develop a roadmap towards net-zero emissions by 2050.