Church Commissioners for England, London, is targeting a 25% reduction in the carbon intensity of its investment portfolio by 2025.
The target "is a realistic goal in our mission to create real world change to transition to a net-zero global economy," a news release said.
The reduction will apply to Church Commissioners' public equities and real estate portfolios. Other classes will be included in carbon emission reductions as methodologies and reliable data develop. The asset allocation was not available.
To reach its goal, executives will increase engagement activity with the highest-emitting companies in its portfolio, as well as with money managers across all asset classes.
The Church Commissioners formalized its 2050 net-zero commitment in January 2020, when it joined the United Nations-Convened Net-Zero Asset Owner Alliance, a spokesman said.
Church Commissioners is also increasing policy work ahead of the United Nations climate change conference in November, known as COP26. Increased work includes to cover deforestation and the green recovery.
"Real action is necessary to respond to the climate emergency," Tom Joy, CIO, said in the release. "Through this 2025 interim goal, the Church Commissioners are reaffirming their commitment to reaching net-zero. This 25% reduction in carbon intensity will be the first step in getting there."
Church Commissioners manages an £8.7 billion ($12 billion) portfolio of assets.
