The Science Based Targets initiative has formally validated Schroders' greenhouse gas emission reduction goals
Schroders has announced today that the Science Based Targets initiative has formally certified its aims for reducing greenhouse gas emissions (SBTi).
Schroders announced today that the Science Based Targets initiative has formally validated its greenhouse gas emission reduction goals (SBTi).
Schroders' Scope 1 and 2 targets have been confirmed by the SBTi to be on a 1.5°C trajectory. By 2040, the relevant assets under management are also expected to be fully aligned with a 1.5C pathway. The initiative aims to encourage businesses to align their business models with the Paris Agreement's goal of limiting global warming to 1.5°C above pre-industrial levels.
Schroders is one of the first 20 financial institutions in the world, and the largest investment manager in terms of assets under management, to have its goals formally validated by the initiative. The targets include Schroders' own operations as well as our "financed emissions," or emissions generated by the companies in which we invest.
As part of this focus, Schroders has increased internal investment to help us measure and manage climate risk, as well as to push companies to transition.
Andy Howard, Global Head of Sustainable Investment, Schroders, commented:
“Schroders believes that in order for businesses to survive and thrive they need to adopt long-term sustainable business models
. Setting ambitious targets now will catalyse change to protect and enhance business value in the long term.
“Our dedication to achieving our reduction goals is paramount to our business strategy. We believe that in tomorrow’s investment world, profits and planet are interlinked.”
Madeleine Cobb, Head of Corporate Sustainability, Schroders, commented:
“We believe we should lead by example in terms of managing and reducing the climate impact we have from our own operations. In the process of improving our own environmental performance, we will engage our people and suppliers to support our climate goals.
Alberto Carrillo Pineda, Managing Director of the SBTi, commented:
“The financial sector plays a significant role in decarbonising the economy and driving corporate climate action. We need asset managers, banks, insurers, and others to align their climate targets to the global climate goals in a robust and transparent manner.
“We congratulate Schroders on their validated science-based targets. For financial institutions, it is critical to align financed emissions with the latest climate science to reduce the impacts of climate change and others must do the same.”
Source: Schroders news