Brunel publishes new Climate Change Progress Report
Brunel has confirmed that 91% of its assets under management now have Paris-aligned targets set against them – with the pool on track to reach 100% by the end of 2025.
It comes as part of the pool’s Climate Change Progress Report, with the report also finding the carbon intensity of the Brunel Aggregate Portfolio was 60% lower than its 2019 baseline. Additionally, the reserves intensity of the Brunel Aggregate Portfolio was down by 93%.
Brunel Chief Executive Laura Chappell said: “Climate change is still a universal, systemic risk – one that investors cannot afford to ignore.
“It is enormously important that asset owners set out a clear climate strategy. We hope Brunel’s exceptional progress across 2024 encourages others in the industry to make similar progress.”
The pool also remains committed to achieving net zero emissions by 2050 or sooner. Additionally, it launched a dedicated Investment Oversight Committee to ensure alignment of investments with fiduciary and climate responsibilities.
Alongside this, it’s working on Scope 3 emissions disclosure, fossil fuel transition, and supporting regulated carbon markets.
Brunel’s Chief Responsible Investment officer Faith Ward said: “Implementing our climate change policy is not just about ticking boxes or demonstrating progress. Everything we do is designed to make real-world change and we work hard to maximise the impact on our world.
“We focus on systemic change because although it can be slow, it allows for the most widespread impact and real-world change. We have high expectations for our stakeholders and use our influence to ensure they, as well as we, go further than simply meeting regulatory minimums.”
