Martin Currie is proud to announce we have joined the Net Zero Asset Managers Initiative (NZAMI) alongside Franklin Templeton & it’s Specialist Investment Managers ClearBridge Investments and Brandywine Global.
Launched in December 2020, NZAMI is an international group of 128 asset managers, with US$43 trillion in assets under management . The group is committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius; and to supporting investing aligned with net zero emissions by 2050 or sooner. Delivery of the commitment includes prioritizing the achievement of real economy emissions reductions within the sectors and companies in which the asset managers invest.
As part of the initiative, Martin Currie and other asset manager signatories have made commitments to:
- Set interim targets for 2030, for assets to be managed in line with the net zero goal, consistent with a fair share of the 50% global reduction in CO2 identified as a requirement in the Intergovernmental Panel on Climate Change (IPCC) special report on global warming of 1.5°C.
- Take account of portfolio Scope 1 and 2 emissions and, to the extent possible, material portfolio Scope 3 emissions;
- Implement a stewardship and engagement strategy, with a clear escalation and voting policy, that is consistent with the ambition for all assets under management to achieve net zero emissions by 2050 or sooner; and
- As required, create investment products aligned with net zero emissions by 2050 and facilitating increased investment in climate solutions.
At Martin Currie, we have responded by committing to both offset our existing emissions and establish our own carbon reduction targets with the aim of becoming net zero as a business.
Julian Ide, CEO of Martin Currie, said
“Martin Currie is delighted to be part of the Net Zero Asset Managers Initiative – a crucial response to improving transparency around climate risks, accelerating the adoption of net-zero targets and providing a mechanism so that real-world emissions reductions are achieved.
With the countdown to COP 26 in Scotland now well under way, countries are being asked to come forward with ambitious emissions reduction goals, action plans and interim targets that put us on a path for reaching net zero by 2050.
To help achieve this, the investment asset management industry has an important role to play through its actions as long-term stewards of its clients’ assets, and is positioned to both incentivise the adoption of net zero targets and increase the flow of capital flow to companies providing climate solutions.
As a global asset management business headquartered in Scotland, we believe we have an important platform for signalling the industry’s commitments to Net Zero at this time and our commitment to the NZAMI is very much a part of that.”
David Sheasby, Head of Stewardship and ESG at Martin Currie & Co-Chair of the Franklin Templeton Stewardship and Sustainability Council, said
“Martin Currie is proud to be part of this solution by becoming a signatory to NZAMI and signalling our intent to be part of the capital markets solution to the climate crisis.
Taking action on such a commitment is no small task and we will spend the next 12 months engaging with clients and conducting detailed analysis of portfolios with the intention of setting out our own specific targets with the goal of aligning portfolios with net zero by 2050.
We will look to leverage the insights from our Stewardship Institute and investment teams to help create solutions for clients that contribute to the achievement of net zero goals.
Furthermore, Franklin Templeton’s Stewardship and Sustainability Council has identified climate change as a key strategic priority across the wider Franklin Templeton organization. NZAMI is an important initiative and one which we can show the value of collaboration between Franklin Templeton and other independent Specialist Investment Managers in responding to key societal and industry challenges by leveraging our collective expertise and unique insights.”
For more information, please see FT’s press release.