Macquarie Asset Management to Manage Portfolio in Line with Net Zero Emissions by 2040
Macquarie Asset Management (MAM), a top 50 global asset manager and the world’s largest manager of infrastructure, announced today a new commitment to manage its portfolio in line with net zero emissions by 2040.
MAM manages alternative asset portfolios, as well as portfolios of public securities. The company stated that in its portfolios of public securities, and alternative investments where it does not have significant influence, it will support the goals of the Paris Agreement in a manner consistent with its client-guided fiduciary and regulatory responsibilities. For alternative investment portfolios where the firm exercises control or significant influence, MAM has set a goal to have Paris-aligned/net zero business plans in place by the end of 2022. For this latter category, commitments to reach this goal include measuring the greenhouse gas emissions of all portfolio companies, identifying pathways to reduce emissions, developing business plans that contribute to a net zero economy by 2040, aligning new investments to these targets within 24 months of acquisition, working with portfolio companies to meet Paris-aligned/net zero emissions reduction pathways by 2030, and reporting annually on progress.
In a letter to investors outlining the new commitments, Martin Stanley, head of Macquarie Asset Management, said:
“As long-term investors in companies that underpin economies and communities, we take our responsibility to address climate risks seriously. As stewards of these vital businesses, we have a duty to ensure they play their part in global efforts to address our warming planet. Today we are announcing a range of commitments that will reduce emissions across our portfolio and build sustainable long-term value for the benefit of our portfolio companies, our clients and the communities in which we operate.”