Macquarie Asset Management plans to manage its portfolio with the goal of reaching net zero carbon emissions by 2040.
The money manager's goal is to have a business plan aligned to the Paris Agreement and net-zero emissions in place by the end of 2022, a news release from parent company Macquarie Group said Wednesday.
"As long-term investors in companies that underpin economies and communities, we take our responsibility to address climate risks seriously," Martin Stanley, senior managing director and head of Macquarie Asset Management, said in a letter to investors cited in the release. "As stewards of these vital businesses, we have a duty to ensure they play their part in global efforts to address our warming planet."
Among the steps Macquarie announced it will take are measuring the greenhouse gas emissions of all companies in its portfolio, identifying ways to reduce emissions, working with portfolio companies to meet their Paris-aligned goals by 2030, and targeting the completion of the steps within 24 months of the acquisition of future investments.
As of Sept. 30, Macquarie Asset Management had $397 billion in assets under management.
Macquarie has posted further information on its website.
