Robeco intends to reduce greenhouse gas emissions linked to half of its €158 billion ($189 billion) in assets under management by 2030, a spokeswoman said.
The plan is part of the money manager's broader effort to completely eliminate carbon exposure from its investments by 2050.
In addition to launching investment strategies that contribute to a low-carbon economy, such as global green bonds, Robeco will develop interim portfolio decarbonization targets. The first set of targets will be announced in 2021, the spokeswoman said. Announcements will include interim 2025 targets for carbon footprint reduction and the proportion of assets under management to be affected. Robeco will then set its 2030 targets by 2025.
"We have set this ambition with the conviction that investing is not only about creating wealth but also about contributing to well-being," CEO Gilbert Van Hassel said in a news release Friday.
Victor Verberk, CIO for fixed income and sustainability, added in the release, "We aim to make our contribution to the (2015) Paris Agreement ambition, as climate change represents a significant threat to investors and the global economy. We acknowledge the responsibility of the investment industry towards climate change risks through the investment decisions that we make and the active dialogue we have with investee companies and other institutions."
The move follows the firm's September commitment to remove exposure within its mutual funds to companies that derive revenue from thermal coal, oil sands and Arctic drilling. This divestment — set to be completed by the end of this year — amounts to €87 million in equities and €17 million in fixed-income exposures.