IFM Investors, the Australian infrastructure investor, announced plans to slash more than a million tons of annual CO2 emissions from its infrastructure portfolio by 2030, en route to its 2050 goal of net-zero.
That 2030 target would represent a 40% reduction from 2019 levels for emissions on its A$74.5 billion ($55.5 billion) portfolio of infrastructure investments, the company said in a news release.
Additionally, IFM said it will restrict investments in any assets that derive material amounts of revenue from thermal coal, and target zero coal exposure for the firm's existing portfolio by 2030.
A spokesman for the firm said the portfolio's only remaining coal exposure now is a heating company in Poland, with IFM working now to switch that portfolio company to a renewable energy source.
