JBR Capital leads the automotive finance sector by offsetting carbon emissions of clients’ cars
Premier automotive finance provider, JBR Capital, is proud to announce a new sustainability initiative that will greatly reduce the environmental impact of its clients’ cars.
Leading the automotive finance sector via the establishment of a new carbon-offsetting programme, JBR Capital will offset 5,000 miles of carbon emissions for each car financed by its clients, effective 1st January 2022, through the purchase of carbon credits.
A highly responsible business, JBR Capital also today announces a raft of measures – brought in under its progressive environmental, social and governance strategy – further marking it out as an innovator in the automotive finance industry.
Working with leading sustainability consultancy EB7, JBR Capital has calculated its internal greenhouse gas emissions for 2019 to provide a baseline. This model sets a target for the company to reduce its gross, global scope 1, 2 and selected scope 3 emissions in tonnes of CO2 intensity output by 10 per cent every year. JBR has purchased carbon credits for 2019-2021 as it transitions towards Net Zero certification.
With a new exclusive partnership with Carbon Neutral Britain, JBR Capital will enable its customers to continue to enjoy driving, but to do so in an as environmentally-friendly a manner as possible. A London-based company that gives UK individuals and businesses the opportunity to positively impact climate change, Carbon Neutral Britain operates under the United Nations Framework Convention on Climate Change.
So far, Carbon Neutral Britain’s projects have offset over 500,000 tonnes of CO2 and planted more than three million trees, with partnerships with household names such as Virgin Money, the DPD Group and Bureau Veritas. Via Carbon Neutral Britain, projects are selected based on their wider impact, providing secondary benefits such as education, employment, clean water, and a positive impact on the local wildlife and ecology within the region. From projects such as hydro-electrical power in Chile, reforestation in Brazil, woodland planting in England and solar water heating in India, JBR Capital clients will now be able to contribute and help make a difference to climate change.
Through consultation with its clients, JBR Capital has determined that 5,000 miles reflects their average annual usage. They will also be able to increase their carbon offsetting once they exceed this mileage. At the first anniversary of their JBR Capital finance agreement, clients will be invited to continue offsetting their vehicle’s carbon emissions themselves, should they wish to do so with Carbon Neutral Britain.
In addition to the offsetting work, JBR is working with two charities, ‘Talent Rise’ – an organisation that aims to change the lives of young people from disadvantaged backgrounds – and also ‘City Harvest’, which distributes surplus food for free to 350+ charities.
Nayan Kisnadwala, CEO of JBR, commented: “We are a highly responsible business and our new sustainability strategy is proof of that ethos. I am proud we are leading the automotive finance sector with our new ESG initiatives, which will significantly offset carbon emissions from our clients’ cars. We are champions of this industry and we want to do the right thing through immediate actions, preserving this sector for the future, enabling our clients to simultaneously enjoy a passion for driving but doing so in a sustainable manner.
“JBR Capital was founded to exclusively finance the acquisition of high performance sports cars, supercars, luxury and prestige vehicles to enable our clients to drive the car of their dreams. Many customers are now choosing high performance electric vehicles, but they also still want to enjoy internal combustion engined cars responsibly and with as little impact on the planet as possible. Partnering with one of the world’s leading offset companies, Carbon Neutral Britain, means that being environmentally conscious and a car enthusiast does not have to be mutually exclusive.”
James Poynter, director of business development at Carbon Neutral Britain, said: “Increased CO2 emissions into the atmosphere is the biggest cause of global warming on our planet. By planting trees and funding carbon offsetting projects, we remove and prevent further CO2 emissions around the globe in the most cost-effective and impactful way. We have already helped many drivers take a positive step in the fight against climate change and are delighted to be able to partner with a company of the calibre, foresight, and responsibility of JBR Capital.”