Subject to approval by Active Super’s Board, setting an interim target by 2030.
In July 2021, Active Super completed an Emissions Policy which sets a long term target of net zero emissions by at least 2050. This requires net zero modelling across all asset classes of our fund. Active Super is planning to set an interim target by 2030 once our analysis is fully completed and methodologies finalised. See Active Super’s 2021 Impact Report for progress related to our net zero commitment.
Pathway to 2030 Science Based Target
Through our company engagement program, Active Super requested Woolworths define the pathway to meet a Science Based Target commitment to reduce greenhouse gas emissions by 2030.
Investing in line with the goals of the Paris Agreement
Annual ESG reviews across all asset classes
Active Super assesses and monitors ESG risk across our entire portfolio in all asset classes via annual reviews. We assess ESG integration and correlation with investment performance using proprietary methodology which has been developed in house. This method is utilised for onboarding, monitoring and maintenance as well as the removal of fund managers. The results are reported within our Investment Committee Papers. We review ESG integration processes and in this way, we can gauge the level of active engagement, incorporation of issues that pertain to specific sectors and how these will impact stock weightings. This is one part of a comprehensive process which looks at all aspects of Policy, Integration, Innovation, Active Ownership and ESG Quality. Qualitative ESG aspects are converted to quantitative scores and compared against investment performance data.
Carbon emissions and ESG risk reporting
Active Super (LGS) reports weighted average carbon intensity (expressed in tons CO2e /$M revenue as recommended by TCFD) and carbon emission figures for both the Australian and international portfolios which are compared against benchmark figures. Historical emissions data and percentage of portfolio invested in clean technology solutions are also reported. In the ESG Risk Report, LGS reports an overall ESG Quality score as well as scores for individual E, S and G pillars for both the Australian and international portfolios. The portfolio’s top performing ESG categories, ESG rating distributions and historical ESG scores are also reported.
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