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
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
