ESG Aus and NZ Update

IFM Investors sets 2030 interim emissions target for net-zero by 2050

IFM Investors has set a mid-way emissions reduction target of over a million metric tons of CO2e for its infrastructure asset class as part of its net-zero by 2050 goal. This interim challenge is set to reduce 40 per cent of IFM’s existing infrastructure portfolio from 2019 levels.

Investments will be restricted on any assets that derive material amounts of revenue from thermal coal, targeting zero coal exposure on the existing portfolio by 2030. Investments will continue in essential infrastructure assets that working people rely on daily in transport, utilities and energy while supporting a transition of these businesses to a net-zero world.

ACSI survey finds net-zero pledges up from 14 to 49 in a year

A survey by the Australian Council of Superannuation Investors (ACSI) found 49 ASX200 companies have made a net-zero pledge in the year to March 2021, up from just 14 in the previous year. Just 18 companies, however, have set science-based targets aligned with keeping temperature increases to 1.5 degrees.

Greenpeace: Major Australian companies have no ‘firm’ plans to reduce emissions

Some of the biggest greenhouse gas emitters in Australia on the ASX200 with net-zero targets set have no firm plans to end coal use to meet targets. The analysis was conducted by Greenpeace Australia Pacific, with the organisation saying major local companies such as AGL and Qantas using ‘corporate greenwash’.

Over half of our 80 top emitters in the ASX200 have net-zero or carbon-neutral targets in place, but just 16 have committed to reducing emissions from operations. AGL, for example, is using carbon offsets, despite continuing to be our biggest polluter.