Portfolio level – Portfolio decarbonisation reference target
Baseline: 31 March 2020
Target Year(s): 2025, 2030, 2050
- -25-30% CO2e/£m invested by 2025
- -50% CO2e/£m invested by 2030
- Net zero by 2050 or sooner
Baseline year performance:70tC02e/£m invested
GHG scopes included: Scope 1 and Scope 2 emissions currently. As data quality and availability improves for Scope 3 GHG emissions, we will look to include this in future iterations of the Net Zero Plan for the future emissions footprint, engagement and alignment targets.
Asset classes in scope: Listed Equities and Corporate Fixed Income.
Portfolio level – Investment in climate solutions target
Qualitative goal: Railpen has committed to increasing investment in climate solutions, where possible.
Approach: Railpen has not set a quantitative target but is actively reviewing opportunities in renewable energy and energy efficient technologies and solutions, especially in infrastructure and private markets. Railpen will continue to monitor developments in data and the evidence base in defining climate solutions as we increase investments in the space.
Asset level – Portfolio coverage target
Target: 100% of AUM in ‘material’ sectors either already net zero, aligned to net zero, or aligning by 2040.
Asset level – Engagement threshold target
Target: 70% of financed emissions in material sectors that are either already net zero “aligned” criteria or that will be subject to direct or collective engagement & stewardship actions, increasing to 90% by 2030.
Methodology: IIGCC Net Zero Investment Framework (NZIF).
Scenario(s) used: OECM Model trajectories used to determine target levels.
Additional info: Targets are primarily based on a reduction in absolute emissions.
Railpen case studies
Railpen: Policy advocacy for net zero (EU/Europe/Global)
27 March 2023