A climate positive future
is possible

Climate League 2030 participants are working to reduce Australia's emissions by 45% by 2030.

One year in, this is what they've achieved

37%
reduced portfolio emissions intensity
529
companies were engaged in climate action
$5.4B
additional investment in climate solutions

Climate League participants are committed to decarbonising,
to create a zero carbon future – faster

With combined assets of $919B, integrating emission reduction into
investments and operations creates significant impact.
21%
Achieved absolute emissions reductions
37%
Achieved emissions intensity or relative reductions
79%
Set emissions reduction targets

OF THOSE THAT SET TARGETS…

Making targets meaningful

Climate League participants use these frameworks to ensure that targets are rigorous and science-based.
26%
use the Paris Aligned Investment Initiative Net Zero Investment Framework
16%
use Science Based Targets Initiative
5%
use the Net Zero Asset Owner Alliance Target Setting Protocol
42%
use other independent methods, or in-house scenario analysis
We’ve committed to having our targets verified under the Science Based Targets initiative. We have measured and offset our Scope 1, 2 and operational Scope 3 emissions, including marketing emissions.
Australian Ethical Investment
Our 45% emissions reduction target by 2030 has been set to align with IPCC guidance. As of October 2021, absolute emissions contributed by our listed equities portfolio had decreased by 15%.
TelstraSuper
Based on our latest Carbon Report, our International and Australian aggregate equites portfolios have 36.9% and 15% less carbon emissions (t CO2e / $M Invested) versus their respective benchmarks.
Active Super
Overall achieved a reduction (by intensity) of gross emissions (pre-offsite renewables or nature-based offsets) of -11% (FY21 vs. FY20).
Lendlease Investment Management
Financed emissions relating to our Australian Infrastructure portfolio emissions fell 5% during FY21, representing a reduction of 12,547 tCO2e.
IFM Investors
We saw a 17% reduction in the carbon intensity of our unlisted property portfolio in FY21; with managers aiming for net zero 2030.
Cbus
Our carbon target is part of a broader framework of Net-Zero Directed Investing, and will go beyond carbon reduction targets alone.
abrdn
Measurable, additional and long-term impact are fundamental principles of our investment strategies. We believe that environmental impact and economic impact are not mutually exclusive: they work hand in hand.
Pollination
QIC committed to achieving Net Zero Carbon Emissions by 2028 for our core managed portfolio of Australian retail assets.
QIC
At December 2020 total RIAA Certified Responsible Investment products on the balance sheet was $6.4 billion for assets and liabilities. This grew by 29% ($1.9b) as of June 30 2021 to $8.3 billion.
Teachers Mutual Bank Limited
New Forests has developed a pathway to align with a 1.5 degree scenario. We expect to submit SBTs for verification in 2022 for both corporate and financed portfolio emissions.
New Forests
Our normalised emissions were reduced by 19.98%.
HESTA

PHASING OUT FOSSIL FUELS

Some participants actively engage with carbon intensive companies
to drive the climate transition. Others are saying goodbye.

16%

Exclude all fossil fuel investment

37%

Are phasing out investment in carbon intensive sectors / companies

As at 31 March 2021, we had sold out of all companies with more than 10% exposure to thermal coal mining. 100% of UniSuper's AUM is covered by the exclusion.
UniSuper
Teachers Mutual Bank Limited does not directly lend to or invest in the fossil fuel industry, it never has.
Teachers Mutual Bank Limited
By 2025, ISPT will phase out electric utilities with fossil fuel power.
ISPT
We have had broad climate-related investment exclusions since we were established in 1987. We don’t invest in coal, oil or gas companies, and climate-related criteria also apply to our investment in the transport, food, building materials and finance sectors.
Australian Ethical Investment
TelstraSuper has excluded primary-focus thermal coal producers from our investment portfolios.
TelstraSuper
Whilst we are pleased with the very low carbon footprint of our trusts, we believe our greatest impact will come from portfolio companies’ implementation of climate commitments, given these aim to keep the world within climate safe limits.
U Ethical

Walking the talk

42%

of Climate League participants are already carbon neutral for at least scope 1 and 2 emissions.

New Forests’ purchased carbon offsets to make its FY20 corporate emissions carbon neutral. We’re working to reduce our emissions and lessen our reliance on carbon offsets.
New Forests
VFMC has a net-zero by 2050 target across our entire portfolio, covering approximately $75 billion of assets under management.
Victorian Funds Management Cooperation (VFMC)
Pendal became carbon neutral across our operations during 2021. Going forward we are committed to reducing our emissions so we can directly play a small role in contributing to the reduction of the systemic risk climate change presents to our investments and sees us better placed to examine the efforts of others.
Pendal Group
Our fund became carbon neutral in FY2018-2019. The Climate Active process allows us to focus on what we can do to minimise our impact on the environment.
Active Super
UniSuper was proud to go carbon neutral in 2021.
UniSuper

OUR PARTICIPANTS CAN’T TACKLE CLIMATE CHANGE ALONE

That’s why they collaborate with major companies and big emitters to build a better future.

63%

of Climate League 2030
participants engaged with

529 companies.

ENGAGED COMPANIES MADE REAL PROGRESS
WITH OUR PARTICIPANTS’ SUPPORT:

8 reduced new capital allocated to high carbon assets
16 improved climate governance
28 set new short to medium term net zero targets
4 big emitters improved their approach to a just transition
8 increased climate finance allocation

WE’RE MORE POWERFUL TOGETHER

68%
of Climate League participants participated in other climate initiatives in addition to Climate League 2030
58%
made material changes as part of those initiatives

To amplify their impact, participants engaged through these platforms…

Climate Action
100+

Net Zero Asset
Managers Initiative

Paris Aligned
Investment Initiative

Through our lead role within Climate Action 100+ we saw positive outcomes from the companies for which we are the lead investor, including updated climate transition strategies, more ambitious emission reduction targets, and emission reduction targets linked to executive remuneration.
Aware Super
We have engaged with over 20 companies that contribute to our equity portfolio total emissions. In all direct engagements we have asked for Task Force on Climate related Financial Disclosures aligned reporting or science-based decarbonisation plans with short and medium term targets.
U Ethical
We’re the co-lead on Rio Tinto. Since beginning this engagement, Rio Tinto has exited from coal, published its third TCFD report, set new 2030 targets, linked executive remuneration to climate change targets and agreed to a say on climate vote at its AGM in 2022.
AustralianSuper
We leverage our size and position to influence positive changes at both our listed and unlisted investments.
IFM Investors
With strong relationships at the highest levels of government and the private sector, we shift barriers and catalyse transformative partnerships.
Pollination
VFMC manages investment-related climate risk through active ownership, ESG integration, research and collaboration.”
Victorian Funds Management Cooperation (VFMC)
We collaborated with CA100+ and ACSI, and a small group of investors as well as through our own direct engagement program to drive a 'Say on Climate' awareness and adoption campaign - companies engaged with that have since committed/put forward a 'Say on Climate' vote include: Santos, BHP, Origin, OSH, BlueScope.
Pendal Group
In 2021 we became a signatory to the Paris Aligned Asset Owners, committing to set interim targets for 2030 for reducing emissions associated with our portfolio and setting a target for increasing investment in climate solutions.
HESTA

GROWING THE GOOD

To create a climate positive future, we must go beyond reducing emissions and invest in solutions.

TOGETHER, CLIMATE LEAGUE
PARTICIPANTS INVEST

$43.1b

in climate solutions.

An extra $5.4B was committed in FY21, to build…

6
Renewable energy projects
1
Energy storage project
10
Climate bonds

ACCELERATING ACTION

37%

of Climate League participants have committed to increasing capital allocated to climate solutions.

We have approximately AUD $3.5B dedicated to climate solutions, including over the FY21 reporting period, more than 27MW of solar capacity was installed in one of Australia’s largest rooftop solar projects.
QIC
$36bn (26% of AUM) is dedicated to climate solutions. Over the last year we increased our investment in climate solutions by $1bn, representing a 2.5% increase.
Aware Super
54% of our portfolio was powered by renewable energy, including supply from ISPT’s rooftop solar PV installations and ISPT’s first power purchase agreement. This will increase to 81% in FY2022.
ISPT
Our dedicated climate solutions portfolio is already 50% invested and we will continue to build this portfolio out over time.
Cbus
Through our active investment management we seek to allocate capital to climate solution companies and transition leaders.
abrdn
Lendlease signed an agreement of up to $20 million value for a program to facilitate the use of solar and alternate clean energy technologies. Sunshine Plaza has a 1.1 MWh solar PV array that generated over 1,750 MWh of electricity, preventing over 1,400 tonnes of carbon in FY21.
Lendlease Investment Management
AustralianSuper increased its commitments to climate solutions by more than $530 million during FY21. We currently invest more than $1.2 billion in renewable energy projects.
AustralianSuper

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*Data is based on FY21 reporting from 19 Climate League participants.
**All dollar ($) values in AUD.