IFM Investors targets net zero by 2050
IFM Investors is targeting net zero by 2050 in a commitment to reduce its greenhouse gas emissions.
This aligned with the goals of the Paris Agreement to reduce global temperature rises and the firm would establish clear frameworks and policies to guide sustainable decisions. The firm would itself also become a net zero organisation.
A taskforce would consider:
- Establishing emission reduction commitments;
- Developing policies for net-zero transition plans for new and existing unlisted assets;
- Enhancing investment decision-making and governance frameworks when considering climate change risks and alignment with emission reduction objectives;
- Identifying investment opportunities in decarbonisation and climate-resilient assets, and ensuring that IFM continues to develop capabilities to capture these opportunities; and
- The evolution of technologies and better understanding likely transition pathways, especially in the energy mix.
The firm had already introduced measures to reduce emissions in its infrastructure portfolio companies such as investing in renewable energy projects to help power assets and putting in place targets at Australian assets to reduce emissions by 200,000 tonnes by 2030.
IFM Investors chief executive, David Neal, said: “This is a natural step and an important one if IFM is to continue delivering on its purpose to protect and grow the long-term retirement savings of working people.
“The investment horizon of IFM and our investors is often measured in decades, not years, and it’s vital that we actively manage the risks posed by climate change. The actions we take will help ensure we continue to deliver long-term risk-adjusted returns for our investors and their members and beneficiaries.”
AUTHOR
Laura Dew
Recommended for you
Forager Funds Management has shared its rationale behind delisting its Australian Shares Fund from the ASX in favour of structuring it as an open-ended unit trust.
Michael Lovett, who left the investment giant just three months after launching its Vanguard Super offering, has taken up a CEO role at an Australian asset manager.
As fund managers look to enhance efficiencies and reduce operating expenses amid active underperformance, former abrdn managing director Brett Jollie shares how to successfully do so.
Preqin, an alternative assets data provider, has developed a range of ESG fund performance benchmarks to provide advisers with greater transparency of the alternatives space.
