Our ambitious net zero plans for financial investments
To achieve net zero by 2040 across our value chain (Scope 3 emissions), that is, what the City Corporation buys, sells, invests in and leases to others, we set out targets for our investment portfolios. As leaders in green and sustainable finance, we have committed to aligning our investment portfolios with the Paris Agreement and achieve net zero emissions by 2040.
To achieve this ambitious goal, we established a Financial Investments Programme which will:
- Target 24% reduction in the emissions resulting from our financial investments by 2025, followed by 55% reduction by 2030.
- Achieve full compliance by investment managers with a set of 12 climate investor guidelines.
- Deliver in-depth engagement with our fund managers to ensure that we will meet our targets.
- Adopt an open stance on climate solution investments.
- Dedicate resources for the timely delivery of the net zero pathway.
As part of our commitment, we published our first response to the UK's Task Force on Climate-related Financial Disclosure (TCFD) called Climate Action: Managing Climate Risk for our Financial Investments – 2021.