We are committed to helping solve the world’s sustainability challenges and delivering transformative change in the social and environmental performance of key industry sectors
Our work falls into three broad areas:
The sustainability universe is broad. It is deep and it is evolving. Whether you are starting your sustainability journey, at a crossroads, or ready to turn the dial further, please contact us.
Responsible investment
We believe that the finance sector holds many of the keys to unlocking sustainability outcomes to enable the healthy functioning of companies, markets, communities and governments for a more sustainable world. Our role is to find these keys and use them with a range of stakeholders to realise real-world impacts. We consistently and relentlessly do this across multiple issues.
We have worked extensively with global investors to build their understanding of the investment implications of sustainability-related issues. Our current and recent clients include the World Bank, the Institutional Investors Group on Climate Change (IIGCC), Climate Action 100+ (CA100+), The Principles for Responsible Investment (PRI), Ceres and the Transition Pathway Initiative. We have worked extensively with banks and with institutional investors - asset owners, asset managers and insurance companies - on the development and implementation of their sustainability strategies.
Recent examples include projects with Brunel Pension Partnership (on its climate change policy), BNP Paribas Investment Management (on its global sustainability strategy and its sovereign bonds climate risk assessment framework), Insight Investment (on its corporate bonds climate change index), and Aviva Investors (on its sovereign bonds ESG framework).
What we have been working on
Pathways to decarbonisation in the aviation industry: CA100+
In 2020/21, on behalf of the PRI and Climate Action 100+, Chronos developed a statement of climate change investor expectations for the aviation and aerospace sectors. This statement will form the basis for investor engagement with the sector, with policymakers and with key industry trade bodies
Investor guidance on physical climate risk: IIGCC
To date, relatively little attention has been paid to how institutional investors might assess and report on the physical risks and opportunities arising from climate change.
In May 2020, in partnership with the IIGCC, Chronos prepared a guide for asset managers and asset owners on key steps for addressing physical climate risks.
Investor engagement on water, sanitation and hygiene (WASH)
In 2020 Chronos worked with WaterAid to raise investor awareness of WASH issues and to develop an investor expectations framework that explains how WASH-related issues can be explicitly built into investment research and decision-making and into investor engagement with water utilities and with companies with extensive emerging market supply chains.
Engaging with the Chinese financial sector on the illegal wildlife trade
In 2020 and 2021, we worked with international NGO, TRAFFIC, to press the Chinese financial sector to take effective action on the illegal wildlife trade and, specifically, to ensure these institutions are not lending or providing capital to companies involved in the illegal wildlife trade. This is the start of a multi-year programme to systematically change the attitudes of Chinese consumers and Chinese banks to the wildlife trade.
Responsible Corporate Lobbying on Climate Change
In June 2020, in partnership with AP7, BNP Paribas Asset Management, the Church of England Pensions Board and Chronos established a project to develop a framework for assessing corporate lobbying on climate change in a relevant, systematic and credible manner.
The framework, which will be published in the second half of 2021 will form the basis for a Global Investor Statement on Responsible Corporate Climate Change Lobbying, to be tabled as a key investor contribution to COP26.
The World Bank: Adoption of sustainable investment practices by asset owners in developed and emerging markets
In 2020, Chronos worked with The World Bank to devise a disclosure checklist for asset owners, with a focus on supporting emerging market actors. This framework has been used to assess the sustainability practices and performance of the largest asset owners in Colombia and Africa, and to inform discussions with policymakers on the development and implementation of policy and regulation in these markets.
The framework also forms part of policymaker guidance, jointly issued by PRI and the World Bank, on developing and implementing sustainable financial systems in emerging markets.
Preparing for the transition to a low carbon economy: TPI
As chief technical adviser to the Transition Pathway Initiative (TPI), Chronos has been instrumental in the tool’s acceleration to becoming the go-to corporate climate action benchmark.
In 2020, among other TPI activity and research, Chronos was the technical lead in developing the TPI for fixed income. This work, which was launched in 2021, enables investors to systematically analyse the investment risks and opportunities associated with corporate fixed income investments, providing a structured basis for investor engagement with these issuers.
Bringing UK asset owners together to develop a Stewardship and Responsible Investment Reporting Tool
In partnership with USS, Brunel Pension Partnership, BTPS, the Church of England Pensions Board, Railpen, Chronos developed a publicly available reporting tool to help asset owners meet their responsible investment and stewardship reporting requirements efficiently and effectively.
Multi-stakeholder initiatives and benchmarks
In the corporate sphere, we have built deep and longstanding expertise as the architects of targeted benchmark initiatives including the Business Benchmark on Farm Animal Welfare, and industry coalitions, such as the Global Coalition for Animal Welfare. We provide specialist support to international networks such as the Global Ghost Gear Initiative and to programmes such as Climate Action 100+.
What we have been working on
The Climate Action 100+ Net Zero Company Benchmark
Chronos - in collaboration with Ceres, the Transition Pathway Initiative, FTSE Russell and the London School of Economics – managed the delivery of the first ever CA100+ NetZero Company Benchmark in 2021 and is currently managing the delivery of the second Benchmark which will be launched in 2022.
Addressing the challenge of ocean pollution
In 2020/21, we worked with three major clients: The Global Ghost Gear Initiative (GGGI), The First Sentier MUFG Sustainable Investment Institute and the Principles for Responsible Investment on mitigating marine pollution through action on ghost gear, macro and microplastics
Accelerating corporate practice and performance on farm animal welfare
Over the past decade, The Business Benchmark on Farm Animal Welfare (BBFAW),an initiative inspired and supported by Compassion in World Farming and World Animal Protection and now supported by Compassion in World Farming and Four Paws, has driven major changes in how companies manage and perform on farm animal welfare, and has transformed the way in which investors analyse and act on farm animal welfare.
In June 2021, Chronos unveiled the first regional farm animal welfare benchmark: BBFAW Nordic.
Global Coalition on Animal Welfare
Chronos runs the Secretariat for The Global Coalition for Animal Welfare. GCAW is a global platform uniting major companies and animal welfare experts in advancing animal welfare standards throughout the global food supply chain. Consisting of thirteen member companies, GCAW represents some of the largest names in global food production and food service. With combined revenues of over USD 400 billion (EUR 340 billion) these companies have joined the Coalition to collectively address systemic barriers to improving animal welfare, accelerate the development of standards and drive progress on key welfare issues.
Building the CCLA Mental Health Benchmark
We are working with leading responsible investor, CCLA to build a pioneering investment tool to assess and measure how listed companies are safeguarding mental health in the workplace.
Corporate sustainability
We work with multinational companies across a diverse range of industry sectors from pharmaceutical and consumer goods to professional services sectors to define strategic priorities.
We have worked with industry leaders on the development and implementation of world-class sustainability strategies and sustainability management systems. Recent examples of our work include projects with leading testing, inspection and certification company, SGS (on its sustainability strategy and corporate reporting approach) , the leading market expansion company, DKSH (on its climate and broader sustainability disclosures), a major cosmetics company (on the development and implementation of an animal use and care policy) and a major pharmaceutical company (on developing a global framework for sustainability).
What we have been working on
Developing and implementing an animal care and use policy
We are working with a major cosmetics company on the development and implementation of an animal care and use policy.
Developing sustainability strategies and corporate reporting approaches
Our work includes projects with the leading testing, inspection and certification company, SGS and the leading market expansion company, DKSH on its climate and broader sustainability disclosures.
Developing a global framework for sustainability
We are working with a global animal health company to develop a global framework for sustainability.
We provide clear benefits to companies
Reduced costs, robust processes, raised awareness, improved reputation, and reduced downside risk from failing to effectively manage relevant social and environmental issues.
In each case, we have developed analytical frameworks and tools that enable company practice and performance to be assessed, and we provide the tools and support to enable relevant stakeholders to drive substantial improvements in this performance.