We’re proud of the progress we’ve made on our sustainable investment objectives in 2020.
We also want to take this opportunity to congratulate PRI on their updated reporting framework. The questions have helped us to make progress on our sustainability objectives. We look forward to working with PRI in the weeks and months ahead.
Here are some of the highlights of our 2020 work:
- We organised a partner’s away day on sustainable investment. In addition to financially material ESG integration, we committed to real-world sustainability impact.
- We organised educational workshops for staff on sustainability topics. We prepared educational materials for clients on sustainability topics. We organised multiple ESG-related training sessions with our clients. Our approach is grounded in science.
- We developed a comprehensive project plan, with full-time project manager, and over 100 actions and we set up a sustainability steering committee, chaired by Kerrin Rosenberg – our Cardano UK CEO and Director, Management Board – which meets weekly and assesses progress against our project plan.
- We identified over 30 sustainability champions across the business. Each champion spends between 10 – 50% of their time on sustainability activities. In addition, we hired a head of sustainability.
- We published a revised set of investment beliefs, which sets out our commitments to address the climate crisis, committing our investments to net zero carbon emissions by 2050 in-line with the Paris climate agreement, to promoting a fairer society, and to sustainable emerging market development.
- We joined several sustainable investment groups including IIGCC, the Net Zero Asset Managers Group, Climate Action 100+, the Diversity Project. The full list is available on our website.
- We ended our direct commodity exposure to oil and gas.
- We wrote to all our third-party managers setting out our ESG expectations, including our commitment to real-world sustainability impact. We engaged several managers on sustainability topics, including sustainability policies, membership of PRI, sustainability reporting and stewardship activities. Most of our managers, in turn, made progress on sustainability topics.
- We aligned our third-party manager research questionnaire with the PRI reporting framework.
- We responded to policy consultations on sustainability topics, for example, the DWP’s October and January consultations on TCFD, ESG and climate governance and disclosure for pension funds, the UK stewardship code and the EU’s SFDR.
- We subscribed to MSCI’s ESG ratings and climate modules to measure the sustainability of our investments.
- We implemented a counterparty rating framework to assess our counterparties on sustainability issues.
Please contact us, if you would like to learn more on any of these topics:
Will Martindale, Group Head of Sustainability
Karin Pasha, Head of Sustainability The Netherlands