The carbon footprint of our investment portfolios
Our invested assets impact and influence global carbon emissions and society’s climate-related risk. In 2020, the Partnership for Carbon Accounting Financials (PCAF), a global partnership of financial institutions, released a standard for accounting and reporting of greenhouse gases in financial services companies’ investment and lending portfolios. We used the PCAF methodology to calculate the financed emissions (carbon footprint) of our listed equity and corporate bond portfolios in 2021. A breakdown of the carbon intensity of these portfolios and data quality metrics can be found in Financed emissions of investment portfolios.
By 2026, we will reduce the emissions of our investments by 20% (including public equities and publicly-traded bond). By no later than 2050, our entire investment portfolio will be net zero. Along the way, we will set new interim targets every four years and disclose our progress toward these goals at least annually.
In addition, our institutional asset manager, Addenda Capital set a target to ensure all assets under management will be net zero by 2050 or sooner.
Financed emissions (carbon footprint) of Co-operators listed equity and corporate bond portfolios
- 2021: 369,645 tonnes of carbon dioxide equivalent
- 2020: 366,888 tonnes of carbon dioxide equivalent
- 2019: 311,432 tonnes of carbon dioxide equivalent