Case Study

Lloyd’s of London: Zero-to-landfill waste scheme

Commitment to better waste management
Comprehensive recycling strategy implemented
Cost savings of over 40%

Commitment to better waste management

Lloyd’s of London is the world’s largest specialist insurance and reinsurance market – a hub for risk underwriters. As founding signatories of Climate Wise, the collaborative insurance initiative to tackle climate change, Lloyd’s has a strong ethos for sustainable operations. The Corporation of Lloyd’s have committed to rethinking their approach to waste – leaving the traditional concept of waste management behind, and embarking on a transformational journey in which recycling takes the spotlight.

In January 2012, Lloyd’s launched their zero-to-landfill waste scheme – a programme which has reduced waste management costs by nearly half, challenged all building users to evaluate their perception of waste and put the Corporation on track for reaching a best-practice recycling rate of 85%.

The journey however began with Lloyd’s commitment to understanding the environmental impacts of their waste disposal routes and to identifying solutions for minimising these impacts. The Corporation had a big challenge on its hands: a unique building with strict limitations on how space is utilised; a wide range of building users – including transitory building occupants in the marketplace, large tenants and the Corporation’s own staff; a handful of waste contractors servicing Lloyd’s; and limited data available for reporting performance. The Corporation commissioned Carbon Smart to design and implement an overarching recycling strategy for the Lloyd’s sites to match their ambitions for best practice.

Comprehensive recycling strategy implemented

Carbon Smart’s long history of waste management expertise, combined with Miruna’s experience working with financial sector clients, ensured that the delivery was both effective and responsive to Lloyd’s needs.

Miruna and the team worked directly with Lloyd’s property services team to assess current practices, identify inefficiencies and make practical recommendations. These recommendations included how to deploy the appropriate waste infrastructure, minimise waste volumes, and engage contractors to effectively maximise the value of recyclable materials. Our approach tackled the whole life cycle of waste, from waste generation to final use – identifying opportunities at every stage for closed-loop recycling, and challenging waste providers to deliver innovative solutions to help Lloyd’s boost their recycling rates.

Cost savings of over 40%

The end result is a great success story for both Lloyd’s and Carbon Smart. Lloyd’s new recycling strategy was met with strong support from senior management, and since the launch, the environmental champions at Lloyd’s have been the scheme’s ambassadors. Carbon Smarte wrote the service specification for Lloyd’s invitation-to-tender for a new recycling contract and Lloyd’s have successfully appointed one contractor for all of their sites, ensuring consistency in service delivery and the desired standard for reporting on performance.

The switch to a sole provider and wider segregation of materials has secured waste management cost savings of over 40% and our guidance on rebranding the recycling scheme has equipped Lloyd’s communications team with the necessary tools to expand the recycling service across all building users. The key to these successes has been forward planning and the ability of our teams to support each other in implementing a truly pioneering recycling management scheme, turning waste into a valuable resource.