Osborne invests £8 per tonne in reducing its carbon footprint

Osborne has set up and structured a 'carbon offset fund' to invest in and research more sustainable working practices.

Caroline Oldroyd, environmental policy director at Osborne, said the company had considered carbon offsetting, but hadn't been convinced of its merits.

She added: "We decided the only way to reduce our carbon footprint is to put money into it.

"So we're investing in a ring-fenced fund for those who work for, and with, the company."

Osborne has calculated its business mileage and energy use and placed £8 in the annual fund for every tonne of carbon it produces. The figure represents the cost of one tree which, it is estimated, will soak up one tonne of CO2 in its lifetime.

"If someone has a carbon saving idea, we now have cash to research it. It helps translate policies into action and is available to everyone, including clients."

The company said it intends to consider product miles in the future to ensure that, even if it makes carbon savings, the fund remains healthy.