Vancouver, BC, September 25, 2024 – LGM Financial Services Inc. (LGM) is proud to announce the completion of its GHG Inventory for the year 2023, conducted in partnership with Carbonzero, a Canadian leader in greenhouse gas (GHG) measurement, reduction, and carbon offsetting solutions. The completion of the project represents a key milestone in LGM’s ongoing sustainability efforts, showcasing a substantial reduction in overall carbon emissions since the firm’s previous inventory. This includes an impressive 88% decrease in corporate business travel emissions and a 65% reduction in commuting emissions.
The 2023 GHG Inventory, performed with the expertise of Carbonzero, highlights the impressive strides LGM has made in reducing its environmental impact. The company’s previous emissions inventory, conducted in 2016, laid the foundation for these efforts. The substantial reduction in carbon emissions is largely attributed to the post-pandemic shift in work styles, which has allowed LGM to implement more sustainable practices including but not limited to a remote/hybrid workforce and decreased air travel due to the advancement of remote work.
“We are deeply committed to responsible mobility, and our focus to continuously improving our carbon footprint is a testament to that commitment,” said Drew Collier, President and CEO of LGM Financial Services. “The pandemic forced us to rely on technology for communication, leading to new, more sustainable ways of doing business that have had a significant positive impact on the environment.”
Since LGM’s last GHG Inventory, the firm has implemented significant operational changes to reduce its carbon footprint. The following initiatives have contributed to LGM’s substantial carbon reduction.
- Adopting a predominantly hybrid workforce and a technology-first approach to air travel has helped LGM cut down on carbon emissions from daily commuting and corporate travel.
- Introducing an internal program that offers financial incentives to employees who choose to drive EVs.
- Maintaining office spaces in Vancouver and Montreal, which are electrified buildings, resulted in a reduction of direct fossil fuel consumption.
While not directly linked to LGM’s carbon reduction, the firm has also supported Canadians in their sustainability efforts. By taking a leadership role in promoting EVs and becoming the first finance and insurance provider in Canada to launch EV-specific protection products, LGM aims to boost consumer confidence in this evolving technology. In addition, reinforcing robust in-office waste, compost, and recycling programs, as well as reducing paper use, LGM Financial Services continues to work to integrate sustainable practices into the foundation of the company.
Carbonzero, with over 15 years of experience as an industry leader in GHG measurement, commented on LGM’s achievements.
“LGM’s dedication to reducing their carbon footprint is a great demonstration of environmental leadership in the industry,” said Liam Conway, Vice President of Advisory Services & Chief Operating Officer at Carbonzero. “It is encouraging to see organizations within the automotive industry taking significant steps to reduce their environmental impact, regardless of their position within the value chain.”
As LGM Financial Services continues to work toward its sustainability goals, the company remains committed to implementing further measures to reduce its carbon footprint and contribute positively to the environment.
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About LGM Financial Services Inc.
LGM Financial Services is a leader in providing automotive finance and insurance solutions. With a strong commitment to responsible mobility and sustainability, LGM continues to innovate while reducing its environmental impact.
About Carbonzero
Carbonzero is a Canadian leader in greenhouse gas measurement, reduction, and carbon offsetting solutions, with over 15 years of experience helping organizations achieve their sustainability goals.
