ESG Policy
Environmental, Social, and Governance (ESG) Policy
Carbon Underwriting
At Carbon, we recognise that sustainability and responsible business practices are vital priorities. Our ESG approach reflects our commitment to making a positive impact on the environment, society, and our governance practices - guiding how we operate today and plan for the future.
Environmental Responsibility
We take meaningful, measurable action to reduce our environmental impact and support global sustainability initiatives:
• Our office is located in a building powered by 100% renewable energy.
• Our office coffee supplier has helped protect over 4,530 square meters of rainforest and supports clean water and community projects.
• We work with Fruitful Office, planting one fruit tree for every basket delivered to our team.
• Through Tree Aid, we have planted one tree for every 10 policies sold.
• As of the latest quarter, only 0.02% of our approximately 180,000 live policies (33 policies) relate to companies providing indirect services to carbon-intensive industries (for example, electricians at surface coal handling plants). Importantly, none of these companies derive direct revenue from coal mining, oil sands, or arctic oil exploration. We continue to monitor this closely and are committed to improving our portfolio in line with our sustainability goals.
Carbon Offsetting with ClimatePartner
We track and offset our emissions through ClimatePartner, donating £14 for every ton of CO₂ to certified climate and energy projects. This funding helps address energy poverty while accelerating Africa’s renewable energy transition.
Projects we support include:
• #1405 Solar – Ambatolampy, Madagascar
• #1404 Solar – Omaheke, Namibia
• #1488 Solar – Aswan, Egypt
• #1515 Wind – Northern Cape, South Africa
• #1574 Wind – Ombepo, Namibia
• #1072 Hydropower – DR Congo
• #1080 Solar – Mauritius
These projects not only reduce emissions - they improve lives by expanding access to sustainable, reliable energy across the continent.
Social Impact: A Culture of Giving Back
At Carbon, giving back is part of who we are. Every year, our team are encouraged to embrace volunteering in all forms - from dog walking and crafting to gardening, zoo keeping, and one-to-one reading sessions with children.
Every colleague receives three paid volunteering days per year, which they can use to support any cause, charity, or community activity that’s meaningful to them, anywhere. Whether it’s local or global, personal or team-driven, we empower our people to give back in ways that matter most to them.
Our social impact highlights include:
• Hands-on volunteering and support for our charity partner Richard House Children’s Hospice, including painting vibrant new spaces and refreshing their garden.
• Participation in the Richard House Cup 5-a-side football tournament to raise vital funds.
• Team members volunteering with, Battersea Dogs Home, Hackney City Farm and Bookmark Reading, helping children build literacy skills through one-on-one sessions.
• Ongoing support for the Insurance Industry Charitable Foundation (IICF) through event participation and community fundraising.
This culture of community engagement starts at the top. The leadership team lead by example, creating an environment where giving back is encouraged, celebrated, and deeply valued.
Diversity, Culture & Workplace Excellence
We believe a strong business is built on a strong culture - one that supports, includes, and uplifts every team member.
We’re incredibly proud that Carbon has been named one of The Sunday Times Best Places to Work in both 2024 and 2025, most recently in the Medium Organisation category. These awards recognise the UK’s top employers, with a focus on diversity, inclusion, wellbeing, and employee satisfaction.
We scored highly across six key engagement pillars:
• Reward & Recognition
• Instilling Pride
• Information Sharing
• Empowerment
• Wellbeing
• Job Satisfaction
Our workplace culture supports people from all walks of life, with a strong focus on equity and inclusion across gender, LGBTQIA+ identities, disability, ethnicity, and intergenerational teams. We actively encourage and celebrate religious, cultural, and traditional events, creating a workplace where everyone feels welcome and valued.
Diversity and representation at Carbon:
• 23% of our workforce are ethnically diverse — well above the market average of 14%.
• 17% of leadership roles are held by individuals from ethnic minority backgrounds (vs. a 12% market average).
• 38% of the total Carbon team are women.
• 50% of our leadership team (CEO and direct reports) are female.
• 30% of our wider management team (department heads and above) are female.
• 30% of our people come from non-insurance backgrounds, bringing fresh perspectives and diverse thinking.
• 20% of roles are in non-traditional insurance functions, including Quantitative Engineering and Technology Development teams.
Cultural highlights:
• Our buddy scheme ensures all new joiners feel supported from day one.
• We host regular social events to strengthen connection and community.
• Our office space is designed for comfort and collaboration, with mixing desks, a pool table, shuffleboard, and sofa-style meeting areas that encourage informal conversation and regular breaks.
• Located in Devonshire Square (DSQ), we benefit from a vibrant environment with frequent charity and cultural events for our people to engage with.
Our people are the heart of Carbon — and their energy, positivity, and purpose continue to shape a culture we’re deeply proud of.
Governance
Strong governance is the foundation of Carbon’s ESG commitment. Our leadership ensures that environmental, social, and governance considerations are integrated into all key business decisions.
• ESG Oversight: Our Board of Directors, supported by a dedicated ESG Steering Group, oversees ESG strategy, progress, and risk management - ensuring accountability at the highest level.
• Risk Management: We proactively identify and manage ESG risks, including climate-related and social risks, through our enterprise risk management framework, ensuring resilience and long-term value creation.
• Ethical Conduct: Carbon upholds the highest standards of ethics and integrity. Our policies on anti-bribery, anti-corruption, conflict of interest, and whistleblower protections guide our operations and culture.
• Stakeholder Engagement: We maintain ongoing dialogue with employees, clients, suppliers, communities, and investors to understand their ESG priorities and incorporate their feedback into our strategies.
• Continuous Improvement: ESG governance is a dynamic process - we regularly review and enhance our policies and practices to align with emerging best practices and stakeholder expectations.
Our Commitment
Carbon’s ESG efforts are not just about compliance - they’re about contribution. We believe in creating real-world impact by integrating environmental responsibility, social contribution, and ethical governance into everything we do.
We recognise that ESG is a journey, and we are committed to continuously improving our practices and performance as we learn, grow, and respond to emerging challenges and opportunities - striving always to do better for our people, our clients, our industry, and the world around us.