We’ve published our latest Climate Change report

We've published our latest Climate Change report that discloses how we respond to climate-related risks and opportunities and highlights our key achievements in 2023/2024.

Last year, we published our Sustainability Strategy, which brings together key elements of the way we approach responsible investment, diversity and inclusion and community impact, as well as considering how we reduce our own operational impacts.

Addressing climate-related risks and opportunities is central to achieving our responsible investment and organisational goals. We’ve used the Task Force on Climate-related Financial Disclosures  (TCFD) recommendations as a guide to disclosing these risks and opportunities.

Our Climate Change report identifies some of the progress we’ve made this year, including against our Climate Watchlist. Some of our achievements have been:  

• 60 per cent of portfolio companies in private markets are now covered by carbon data, up from 23 per cent in 2022 
• 90 per cent of companies on our Climate Watchlist reported their environmental impact data to CDP in 2023, up from 84 per cent in 2022 
• 67 per cent of the Fund categorised as ‘Net Zero, Aligned, Aligning or Committed to Align’ with the Paris Agreement, up from 59 per cent since our 2020 baseline
• A reduction of 53 per cent in our offices’ Scope 2 location-based emissions since our 2019/20 baseline year, and continuing to procure 100 per cent renewable electricity (100 per cent renewable electricity also secured for our data centres) 

Claire Curtin, our Head of ESG and Sustainability, said, “It remains one of our key priorities for the business to respond to and manage risks that arise from climate change. To do this we need to keep pushing for better information that will help us paint a more accurate picture of emissions across the Fund. With a sizable allocation to private markets, we have been focused on ways to improve our access to data from our private markets investments.” 

“We have also set high standards for ourselves on climate change. Our target is to reach Net Zero for our operations by 2035 or sooner. For our investments, we seek to contribute to the global transition to Net Zero through our portfolio and engagement activities. In the past three years, we’ve gathered climate assessments across every investment in the Fund so we can see how the Fund’s position aligns to Net Zero and the Paris Agreement. We’ve continually evolved this to reflect new methodologies for different asset classes and changes in our portfolios.” 

Read our full Climate Change report.