Last week, I visited the Schroders Campus in Horsham, home to its operations hub Benchmark Capital, and the launch of a solar farm boasting an impressive 2,606 solar panels.
The extensive solar farm installation was formally launched by Dame Elizabeth Corley, chair of the Schroders Group – on, thankfully, a very sunny day – and marks a significant milestone in the firm’s commitment to sustainability.
The solar panels will generate 1.13MWh/year of electricity. This is the equivalent to approximately 25% of the site’s annual electricity consumption. To encourage the 600 employees based at the campus to transition to hybrid and electric vehicles, 58 electric vehicle charging stations have been installed in the car park, and Schroders has worked with its employees and charity partner, Horsham Matters, to motivate employees and the wider community of Horsham to foster a culture of sustainability.
Further, this green initiative aligns with the firm’s ambitious climate targets that have been validated by the Science-Based Targets initiative – it aims to source 100% renewable electricity by 2025. Madeleine Cobb, head of corporate sustainability at Schroders, said the asset manager is currently sourcing 98% renewable electricity globally. Cobb is confident the 100% target will be met, along with the firm’s wider climate commitments, which include reducing Scope 1 and 2 emissions by 46% by 2030, and achieving net zero greenhouse gas emissions by 2050 across both the investments managed and its own operations.
“For a firm’s whose focus is commitment to corporate sustainability, this solar farm is one of the most visible ways you can bring that to life,” Ed Dymott, chief executive of Benchmark Capital, commented.
Rewilding
Our visit included a tour by Mark Savigar, head of facilities management EMEA at Schroders, around the utopian-like grounds. The site has two bee hives – each housing 10,000 bees that will produce ‘Horsham honey’, as well as a woodland walkway bursting with wildlife and biodiversity, picnic areas, an outdoor gym and an impressive water fountain.
As I made me way through the site, it became apparent that every detail of the solar farm has been well-thought out. Savigar spoke about how the farm meets strict sustainability metrics for its design, construction and operation.
For example, rewilding the field used to install the solar panels was of particular importance and wildflower seeds have been planted in the area on the recommendation of Schroder’s environmental advisers, which are expected to grow next year.
Further, the project is expected to produce a net gain of 12.8% in terms of biodiversity through initiatives such as installing bat and bird boxes and creating habitat piles. This has helped further enhance the ecological value of the area. Alongside this, the project achieved a recycling rate of over 90% as well as zero waste to landfill, and is expected to have a payback timeframe of seven years.
In terms of the maintenance of the solar panels, regular testing of the inverters – the electric component of the solar panels – is required, alongside ensuring the panels are routinely cleaned to maintain optimal efficiency. Also, potential theft is a factor Schroders have accounted for – although the company have deliberately opted for a low security natural wooden fence, extensive CCTV and beam detectors circulate the solar panels. The panels have also been treated with smart water – a water/paint technology where if the solar panels are stolen they are traceable to Schroders with a QR code.
Dame Elizabeth Corley said: “The Horsham solar project offers us a tangible picture of our commitment to reducing our environmental impact and our belief in being a catalyst for change. Through initiatives like this, we are actively working towards a net-zero, nature-positive operating model. I am incredibly proud of what we have achieved, and I look forward to witnessing our continued impact.”
