International Monetary Fund (IMF)

www.imf.org

HQ: Washington DC, USA

Focal Point: Evelyn Nash 

Email: enash [at] imf.org

 

Key figures: Greenhouse gas emissions

 
 

Key figures: Waste

 
 

Mission

 

The IMF's primary mission is to ensure the stability of the international monetary system - the system of exchange rates and international payments that enables countries and their citizens to transact with each other.

 

Experience so far

 

Since 2009, the Fund has been diligently monitoring and evaluating its environmental footprint including comprehensive greenhouse gas accounting. Its goal is to achieve 20% overall GHG reduction since its base year – 2009. The Fund is aligned with international and industry leading practices in environmental sustainability initiatives in four key areas:

  • Sustainable Procurement
  • Transportation
  • Waste Reduction and Diversions
  • Energy and Water Efficiency

For the last 5 years, the Fund has seen a reduction of 28% of carbon emissions from employee commuting and a reduction of 27% from business travel.

Between 2016 and 2017, various further reductions were noted. The emissions from employee commuting (through passenger car, bus, and subway) further decreased by 3%.

The Fund improved its recovery of refrigerant leakage in 2017, thus reduced about 83% emissions compared to the previous year.

Between 2016 and 2017, the Fund took steps to consciously reduce shipments by truck, airline and ship, and as a result, emissions from contracted shipments reduced significantly by 51%, and emissions from contracted courier service reduced by 28%.

The Fund continues to track its Scope 1, 2 and 3 emissions, and has invested in 20 carbon projects to offset a total of 690,289 tons of CO2e since 2009.

 

EMS and Reduction efforts

 

Several programs and policies have been employed to manage and reduce any negative impacts that result from the Fund’s operations. The following are some of the areas and methods that we have pursued to achieve results:

Greenhouse Gas (GHG) Emissions – the Fund is consciously trying to mitigate and minimize our GHG emissions through maximizing transportation efficiency, decreasing property shipment, reducing emissions associated with employee commuting, and purchasing energy from renewable sources. The Fund has implemented the following programs to reduce emissions from other sources, and to stay carbon neutral:

  • Offsetting emissions by investing in carbon projects in in 10 countries throughout the last 9 years
  • Retro-commissioning of existing equipment
  • Installing more energy efficient equipment like LED lighting, improved AC systems, and high efficiency heat pumps
  • Reducing energy consumption by using occupancy sensors
  • Pursuing renewable sources of energy (10% of energy consumed by the Fund is from renewable sources, notably from wind farms in Texas)
  • Working towards LEED Platinum certification in two more properties in the US
  • Incentivizing employee use of public transit, carpooling and biking (63% employees use Smart Benefits commuting program)
  • Reducing property shipments and personal shipments significantly (the emissions from shipments decreased by 51% between 2016 and 2017)
  • Recovering 100% of refrigerant leakage

Water Usage – The Fund has installed equipment to optimize the water consumption in its properties.

Waste – Through donations to the local community, composting, and recycling and re-use initiatives, as well as finding creative uses for old materials, the Fund has become effective with waste reduction. 63% of the waste generated was diverted from landfills through the Fund’s efforts in recycling, reuse, and composting in 2017 (Headquarter 1 and Headquarter 2).

In addition, the Fund has been:

  • Working with Sodexo to initiate the food WasteWatch Program, requiring the cafeteria to collect and track disposal of food waste
  • Increasing composting efforts
  • Recycling E-Waste
 

Inventory Management Plan

 

We track the following GHG sources:

Scope 1: Mobile Emissions – On-Road Vehicles; Purchased Natural Gas; Fuel Oil; Propane; Refrigerants

Scope 2: Purchased Electricity

Scope 3: Business Travel, Employee Commuting, and Property/Personal Shipments

 

Offsetting

 

The Fund has invested in carbon offset projects to offset 120,000 tons of CO2e in 2017. Offsets purchased are significantly higher than the Fund’s total emissions in calendar year 2017 which was 69,354 tons of CO2e.

Carbon offset projects are purchased and certified. The Fund is notified of the CDM project # and the total carbon emissions that were offset through the purchases of the associated credits for each of the projects.

Some of these projects include:

  • Aurá Landfill Gas Project – This project in Belem, Brazil involves constructing a gas collection system at the Aurá landfill. Landfills produce methane that is a very potent greenhouse gas if it gets released into the atmosphere. This project traps that gas and disposes of it safely.
  • Bachat Lamp Yojana CFL Lighting Scheme – This is a project run by the Indian government that helps reduce the cost of compact fluorescent lamps (CFLs) for consumers to the same as traditional incandescent lights. CFLs are far more energy efficient than traditional lights and by using less electricity, fewer emissions are produced.
  • Wind Power and wind-based power generation Projects – These projects were based in Maharashtra, India, and conducted by Rajasthan gum Private limited and Panama Wind Energy Private Limited, respectively.
 

Waste management

 

The Fund tracks both, the diverted and landfill wastes for its US properties (Headquarter 1 and Headquarter 2, and Concordia). Paper and cardboard, plastic, metal, compost, electronics, batteries, lamps, refrigerants and printer cartridges are separated.

Through donations in the local community, composting, recycling and re-use initiatives, as well as finding creative uses for old materials, the Fund has become effective with waste reduction. 63% of the waste generated was diverted from landfills in 2017 through the Fund’s efforts in recycling, reuse, and composting (Headquarter 1 and Headquarter 2).

The Fund also has the following waste avoidance programs:

  1. Expanding the Green-Room Program to both office locations (Periodic program to repurpose/reuse excess office supplies, and donate the remainder items to schools on an annual basis);
  2. Sustainable Procurement criteria to ensure one-time cafeteria supplies are compostable;
  3. Food and waste composting;
  4. Shared printing, and reducing desktop printers; over 1 million sheets of paper are saved annually. The target by 2020 is to reduce paper use by 30%.
  5. Working with Sodexo to initiate the food WasteWatch Program, requiring the cafeteria to collect and track disposal of food waste
  6. Recycling E-Waste
 

Water Management

 

The Fund tracks water usage for its US properties (Headquarter 1 and Headquarter 2, and Concordia). The Fund has installed equipment to optimize water consumption across its properties.

 

Other environmental measures

 

The Fund has made great strides in its environmental journey. The Fund has retrofitted its office space to make for both, improved working conditions for its employees, and a better environment. A number of initiatives and programs were implemented to reduce paper, electronics, food, water and energy waste.

Further, the Fund ensures all surface cleaning products used in its properties are non-toxic.

Green Roofs in Headquarter 2 and Concordia help lower cooling demand, thus further reducing the property’s energy consumption and costs.

The Fund is committed to increasing its local food procurement and thousands of pounds of food are now sourced locally.

The Fund also traded in over 2,400 old iPhones with AT&T, diverting the phones from the landfills and helping recover approximately 696 lbs of raw material (e.g., aluminium, copper).

 

Next steps

 

The Fund has been actively engaged in advancing environmental sustainability and reducing its footprint through many programs and policies.

The Fund will continue to improve its existing programs, focusing on:

  • Energy Efficiency
  • Transportation
  • GHG Management
  • Upgrading the Waste Management Program
  • Waste Reduction and Diversion
  • Water Conservation
  • Responsible Purchasing

The Fund is proactively exploring initiatives to:

  • Establish focused targets and goals
  • Persue waste audits
 

IMF case studies

IMF - Journey to a Sustainable Environment