Responsible Investor F&C Makes Commitment to Tackling Climate Change

LONDON, UK///April 3, 2007/// F&C recognises that climate change is one of the single biggest challenges facing the world today, and that unless we tackle it head on, the consequences will not only be detrimental for the environment but for the global economy as well.

F&C, as a responsible investor, is already taking a number of steps to reduce its own emissions, including the purchase of renewable energy for its London offices. Now, building on this commitment, F&C has signed an agreement with Climate Care to offset the remainder of emissions from its own operations.

David Logan, Chief Financial Officer for F&C, said: "Before offsetting what we cannot reduce, we need to look at how we can reduce our own 'carbon footprint'. We have already taken steps to do this. The business has been buying green energy since 2004 and our largest office in London has sourced 100% of its energy from renewable suppliers since 2005. We have also cut energy use through the use of movement detection lights, and we have reduced air-conditioning during out-of-office hours."

F&C will ensure that all the money it commits to Climate Care is invested in viable and verifiable emissions reduction projects which not only fight climate change but also bring benefits to communities. These includethe introduction of energy efficient lamps for schools in Kazakhstan and more energy efficient cooking stoves in Mexico and Honduras.

"Millions of people, particularly mothers and their children die every year from inhaling smoke from inefficient stoves," said Logan. "Cleaner' cooking stoves have clear health benefits, as well as their environmental advantages."

In response to the recent questions highlighted in the media around the offsetting market, F&C has also published a paper setting out F&C's view on the key issues, and giving recommendations on good practice in this area.

Author of the paper, associate director Vicki Bakhshi from the Governance and Sustainable Investment team, said: "We believe that offsetting can be an important element of a wider climate change strategy for companies, and that the projects funded can be valuable both in terms of the emissions reductions they generate, and their wider sustainable development impacts.

"However, in this unregulated market, buyers must beware. We suggest a list of questions for companies to ask prospective offset providers, so that they can ensure the necessary checks and balances are in place. We also endorse the use of standards such as the Voluntary Carbon Standard and the Gold Standard to
bring greater confidence to this market in the future" she concluded.

CONTACT:
Simone Dippel Communications Manager
F&C Asset Management plc
+44 (0) 20 7770 5373

Karolina Adamkiewicz Communications Manager
F&C Asset Management plc
+44 (0) 20 7011 5011

Notes to Editors
o F&C Asset Management plc (F&C) was created on 11 October 2004 from the merger of F&C (Group Holdings) Limited and ISIS Asset Management plc.
o Shares in F&C are listed on the London Stock Exchange under the code FCAM. Friends Provident, the FTSE 100 insurance group, is F&C's majority shareholder.

F&C Management Limited is authorised and regulated by the Financial Services Authority (FSA) FRN: 119230. Limited by shares. Registered in England and Wales, No 517895. Registered address and Head Office: Exchange House, Primrose Street, London EC2A 2NY. F&C Asset Management plc is the listed holding company of the F&C Group. F&C Management Limited is a member of the F&C Group and a subsidiary of F&C Asset Management plc.

<< Back to Press Releases