Community Green works to help Point72 achieve environmental sustainability in three key areas: energy, waste, and water.
At Point72, we are working toward environmental sustainability by maximizing our efficient use of resources and minimizing our negative impact on ecological systems.
Reduction in market-based greenhouse gas emissions
per employee from 2017 to 2019
Reduction in market-based scope 2 emissions1
from 2017 to 2019
Fewer disposable plastic water bottles
estimated from 2017 to 2019
of waste diverted
With low-flow fixtures and sensors
Through bio-swales and gardens
Greenhouse Gas (GHG) emissions and the warming effect they cause have become one of the most pressing global sustainability issues. Point72 voluntarily performs an internal carbon emissions analysis to monitor the effectiveness of our environmental initiatives and to identify potential improvements. In 2019, we reduced our total GHG emissions by 28%, through increased efficiencies and market-based reductions like solar renewable energy certificates (SRECs), when compared to the 2017 base-year. 2
Scope 1: Oil, natural gas, refrigerants and company owned vehicles
Scope 2: Electricity, Purchased Steam, SREC’s
Scope 3: Air, train and shuttle bus travel
In 2018, Point72 entered a three-year contract to purchase solar renewable energy certificates (SRECs) to neutralize 100% of the electricity used at our Stamford headquarters. The purchased SRECs give Point72 rights to renewable energy, reduces emissions, and provide production subsidies to incentivize renewable energy projects. Each individual REC ensures that one megawatt-hour (MWh) of renewable energy is being added to the grid regardless of the proximity to the renewable energy project.4
Buildings and construction account for nearly 40% of global energy-related CO2 emissions.6 We have implemented green building processes to improve the long-term sustainability of the spaces we occupy as our workforce and office locations expand.
In 2019, we successfully moved employees into our new office space at Hudson Yards. The transition has already allowed for greater cross-functional collaboration between teams and has helped us build a stronger, better-connected, community in New York City. The new building is LEED Gold certified, meeting industry-leading environmental building standards. Hudson Yards is one of the most sustainable new office developments in New York City, incorporating the systems-thinking that cities of the future need to thrive. The development features resilient sustainable microgrids, “smart” infrastructure, and efficient waste streams.
In 2018, we began rolling out a reusable water bottle program across our offices and expanded the program globally. Between 2017 and 2019, we estimate that Point72 used 30% fewer disposable plastic bottles in our offices. In London, all single-use water bottles are now supplied in glass containers, which can be continually recycled unlike plastic. We went a step further in our New York office, completely removing disposable plastic bottles and encouraging employees to use the reusable bottles provided.
Changes implemented in 2018 at our Stamford headquarters led to a 230% increase in the amount of waste recycled. In 2019, we continued to improve our diversion, with a 12% increase in recycling from 2018. We achieved this result by changing to single-stream, or commingled recycling, which allows for all recyclables in a single waste stream. We also utilize leftover organic matter from our Stamford headquarters cafeteria to support local sustainable agriculture.
All of our offices are outfitted with low-flow toilets, urinals, and faucets, operating on sensors, to help minimize our water usage. At our Stamford headquarters, we have implemented bio-swales that serve as rainwater runoff catchment systems near our parking lots. These bio-swales filter water, reduce the stress caused by heavy rains on our storm drains, and help prevent storm drain runoff from introducing polluted water to our ecosystems. We have planted native plant species around our office locations to help naturally collect and filter additional rainwater.
3. Point72 collected data directly from utility providers, property management groups, and preferred travel partners to report on real usage. In 2019, we updated our methodology for estimating historical emissions for leased spaces. These revised estimates were added to provide a more complete representation of Point72’s footprint. Point72 defines its operational boundary for the emissions we report on using the operational control approach. This approach includes emissions from owned and leased office spaces where we have at least one sub metered utility. Small leased satellite offices without any separate utility submeter are not included in the analysis because they are out of our operational control. Natural gas and steam estimates for leased spaces are made based on building data and square footage. Emissions data was calculated using the Environmental Protection Agency Simplified GHG Emissions Calculator.