Steps on the Green Brick Road

We frequently say that it is not just the carbon target, but the path to that target which affects the damage along the way. In this spirit, we share with you along the way our milestones for the four pillars of our Net Zero strategy.

• With a long-established Engagement program, it should be expected that we can report a solid result of 53% engagement versus a target of 70%. Yet as we expand our scope, we will have to run just to stay in place. Our track shoes are laced!
• We are halfway to our 2030 goal of 50% reduction in portfolio carbon emissions. Yet again, we can’t coast if we want to keep up as we expand our scope.
• Aligning our investments with net zero is harder, as not all industries are able to adapt at the same rate. We have developed a framework to analyse whether each investee company is on an appropriate path for its business mix.
• The ecological transition alignment may be the most difficult of all, because of the lack of information. We know from carbon measurements that we must push ahead of the curve, and so we are developing tools to help us make progress now. No time to wait.