CIWM to divest from fossil fuel investments

The Chartered Institution of Wastes Management (CIWM) has said it will exit its investments in fossil fuel companies by 2035.

The announcement was made as part of the CIWM’s strategy, the Net Zero Roadmap, which has brought forward its zero emissions target from 2040 to 2035.

Investments held by the CIWM and its qualifications arm, WAMITAB, account for the majority of the business’s carbon emissions, calculated at 963 tonnes CO2e in 2019.

The strategy said: “Steps have already been taken to reduce CIWM’s investment emissions by divesting the portfolio away from fossil fuel investments. Further action is needed to reduce the impact of WAMITAB’s and therefore CIWM’s total investments.”

A priority will be to invest in carbon neutral and offsetting portfolios.

The strategy was drawn up with advice from consultants Ricardo Energy & Environment. It outlines steps to reduce carbon emissions through energy management, transport, waste and events. The baseline emissions covering CIWM and WAMITAB in 2019 was 2,315 tonnes CO2e.

Ninety per cent of the CIWM’s training activity is to be held online in order to meet the targets.

Liz Parkes, chair of CIWM’s general council, said: “The waste and resources sector plays a vital role in the UK’s transition to a net zero economy. Formation of the new Climate Change SEG will ensure CIWM continues to lead by example and support its members on their own journey to zero emissions.

“This summer’s heatwaves have also shown the need to increase our resilience to the changing climate and be confident that our essential services will withstand climate shocks.

CIWM is a signatory to the Pledge to Net Zero and the Professional Bodies Climate Action Charter.

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