The specialist ethical, sustainable and impact arm of Rathbone Greenbank Investments has announced its plan to become a net zero emissions business by 2040.
The plan includes a commitment to reach net zero carbon emissions from its own operations and supply chain by 2030 using the Science-Based Targets Initiative framework, as well as a 60% cut in the carbon intensity of its investments.
The firm has undertaken a full emissions inventory and will use the SBTI methodology to set its operational and investment targets as part of an effort to reduce greenhouse gas emissions and limit global warming to 1.5°C above pre-industrial levels.
Rathbone Greenbank Investments will include direct operational emissions, alongside those linked to suppliers and investments.
Using 2020 as a baseline year, it will work to achieve a 42% reduction in operational and supply chain emissions by 2030, in conjunction with 57% of underlying holdings to commit to or set an SBTi aligned target by 2030. This is in line with the group’s objective of achieving 100% investment coverage by 2040.
Greenbank has followed the Net Zero Investment Framework (NZIF) to set targets covering the investments it manages
John David, head of Rathbone Greenbank Investments, said: “We have long-used engagement and voting to lock-in company ambition on climate change, so it is only right that we then set ourselves ambitious and stretching net zero targets which allow us to continue challenging our portfolio companies and teams to do more for the future of our planet. The NZIF provides us with a practical blueprint to make significant progress this decade and beyond.”
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