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 our milestones for the four pillars of our Net Zero strategy.

• We have engaged 56 companies, accounting for a bit more than 51% of our financed emissions – solid progress toward our 2030 target of 70%.
• We have continued to decarbonise our portfolios at a fast pace. Our net zero perimeter achieved a carbon intensity reduction of 37.3% if not rebased for AUM evolution, and 44.8% when rebased for AUM evolution. We are getting closer to our 2030 goal of 50%.
• We have increased the share of financed emissions coming from companies that are “net zero” or “aligned to net zero pathway” to 12% - versus our target of 50%. Note that according to the SBTi (Science-Based Target Initiative) validation process, 52% of our financed emissions are aligned. This reflects the strictness of our proprietary evaluation framework, that does not only assess the credibility of companies’ climate targets but also evaluates their capacity to deliver on those targets. Our emissions reduction targets are also more ambitious, and stricter, than SBTi’s.
• We are developing tools and indicators to assess our financing of the ecological transition. We have accelerated our investments in green bonds, environmental thematic strategies, and will start reporting on the level of taxonomy alignment of our funds classified as article 8 and 9 under the SFDR.