Aegon Saves An Estimated 270 Tonnes Of CO2 By Using Mailock

Origo and Beyond Encryption have developed a calculator to quantify the CO2 savings from using their Mailock secure email solution. The calculator’s proprietary formula takes into account the CO2 emissions savings around measures such as print and postage costs*.

UK financial services provider Aegon was one of the first financial service providers to launch the Mailock solution to securely email confidential documents. The calculator estimates that since adoption, Aegon has achieved around 270 tonnes of CO2 savings through its use of Mailock.

Ronnie Taylor, Aegon’s Chief Distribution Officer, commented:

“This dramatic reduction in the need to print and post important paperwork is one of the key ways that financial services companies can make significant CO2 emission savings by examining their day-to-day operations.

Invariably, this will mean digitising processes to create greater efficiency, security, and regulatory compliance, discarding legacy ways of working which are inconsistent with net zero targets.”

With the annual COP26 conference in Scotland, the UK is collaborating with countries worldwide to ensure net zero is reached by 2050, along with the aim of reducing carbon emissions by 78% before 2035.

Mailock, the financial services industry secure email solution, is provided by Origo and Beyond Encryption, who are passionate about their contribution towards the global agenda.

Anthony Rafferty, CEO of Origo, commented:

“These carbon savings are just the start… COP26 has increased pressure on financial services companies to cut their CO2 emissions, as has the Chancellor's recent announcement that London Stock Exchange listed companies will need to set down detailed plans as to how they will help Britain reach net zero carbon emissions by 2050.

Financial services will face increasing pressure to commit to carbon reductions and Mailock could be the key to unlocking such reductions.”

The FCA has published a new ESG Strategy that coincided with COP26 Finance Day, a strategy that builds on the commitments in the most recent FCA Business Plan and comes after the recent publication of the FCA and PRA Climate Adaptation reports.

Paul Holland, CEO and founder of Beyond Encryption, said:

“Tens of thousands of intermediaries are already using the industry solution with increasing institutional adoption. Aegon’s carbon-saving success demonstrates the considerable impact big corporates can have in a short period of time by digitising their communications.

The impact of COVID-19 and home working, alongside the increasing threat of cybercriminal activity, have increased consumer appetite with environmental awareness a critical factor and core part of our mission as a business. Mailock is here to assist financial services companies with their ESG considerations and carbon pledges, a secure and auditable delivery substitute for traditional mail.”

References:

The UK's Plans and Progress to Reach Net Zero by 2050, House of Commons, 2023

Powering Up Britain: Net Zero Growth Plan, UK Government, 2023

A strategy for positive change: our ESG priorities, Financial Conduct Authority, 2021

Joint statement by the FCA, PRA, TPR and FRC on the publication of Climate Change Adaptation Reports, Financial Conduct Authority, 2021

Reviewed By:

Sabrina McClune, 03.06.24

Sam Kendall, 03.06.24

*Calculating CO2 Savings
The manufacture, composition, preparation, and shipping of a physical communication (post) involve significantly greater carbon emissions than the alternative digital dispatch of correspondence, with secure email giving rise to significant economic, ecological, and process efficiencies.

Quantifying the positive ecological impact requires us to consider many contributing factors: paper & envelope size – composition including number of pages – weight – colour/content composition – brochure – colour/print & post type – distance for delivery – disposal/recycle method – percentage, etc. Based on the messages Aegon has sent, we estimate the TCO2e to be circa 270 tonnes.