Jupiter commits to net zero by 2050 across £56bn investment portfolio

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Jupiter manages equity and bond investments for private and institutional investors

Asset manager promises to set interim 2030 emissions reduction targets by the end of this year as it works to achieve net zero by mid-century

Jupiter Fund Management has committed to achieving net zero emissions by 2050 across its full range of investments and operations, citing the “urgent need” to limit global warming to less than 1.5C in line with global climate goals.

The company said today it would define a detailed roadmap including milestones and targets for achieving the goal across its £55.7bn investment range, including interim targets for 2030, by the end of this year.

In addition, the firm confirmed that it would “further enhance” its disclosure on the total Scope 1,2 and 3 emissions produced by its operations over the course of this year and will set operational emissions targets consistent with its net zero objective.

And, at its corporate level, Jupiter has confirmed a partnership with Forest Carbon, a not-for-profit scheme providing woodland carbon capture projects in the UK. 

“Today’s announcements build on Jupiter’s position as a long-standing supporter of sustainable and responsible investing,” said Jupiter CEO Andrew Formica. “At Jupiter we believe that the future is better served by sustainable companies with strong environmental credentials, and it is imperative that we work together as a company, an industry, and a society to tackle climate change. I am pleased at the progress Jupiter is making towards this at both an investment and company level.”

At the same time, Jupiter is aligning with the UN Global Compact (UNGC) on its strategy, purpose and principles, it said. In line with the Compact, all the company’s investment decision-making and engagement will be guided by the principles of the UNGC and all investee companies will be expected to abide by the Compact’s Ten Principles, which includes commitments in on human rights, labour, environment and anti-corruption.

The asset manager has also become a member of the ‘Good Work Coalition’ and as such, will encourage all investee companies across its flagship UK equities business to pay a living wage to their employees and will push for better working conditions and reduced workplace inequality, in partnership with ShareAction and other members of the Coalition. Jupiter said it would also accredit as a Living Wage Employer.

“As a high conviction, active manager of our clients’ money, we have a responsibility and an opportunity to do all we can to effect change by engaging with and influencing the companies we invest in to adopt more sustainable businesses,” Formica added. “The transition to net zero carbon emissions is imperative but improving wider societal and governance standards is also crucial. Along with net zero commitments, initiatives that align with the wider sustainability agenda, such as the UNGC principles and Good Work Coalition, will result in long term gains for all stakeholders.”

This article first appeared at BusinessGreen’s sister site Investment Week.

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