The National Trust for Places of Historic Interest or Natural Beauty
Portfolio level – Portfolio decarbonisation reference target
Baseline date: 31 December 2019
- 177,050 tons CO2e
- 109 tons C02e/$mn invested
Target year(s): 2030
Target(s): 50,000 tons CO2e gross or zero emissions net of carbon credits generated by investments in reforestation
GHG scopes included: Coverage for now is scope 1,2 only. Zero fossil fuel policy limits the amount of scope 3 emissions, however. It is our intention to include Scope 3 emissions when we can rely on sufficiently robust data.
Asset classes in scope: Listed equity, corporate fixed income, multi-asset/absolute return & PE/VC
Net zero scenarios: The aggressive target has been set well in excess of any Paris aligned scenario in acknowledgement that some investors will fail in that goal, so those able to show leadership and go further should do so.
Portfolio level – Investment in climate solutions target
Baseline date: 31 December 2020
Baseline performance: $70.4m of assets
Target year: 2030
13% of assets, assuming 2.5% inflation 2021 onwards
Methodology: Assets meet MSCI definition of Climate Solutions, specifically ‘Alternative Energy’, ‘Energy Efficiency’, ‘Green Building’, and ‘Sustainable Agriculture’
Asset level – Portfolio coverage target
Baseline date: 30 September 2021
Baseline performance: 33% of assets meeting at least “aligning” criteria
Target date: 2025
Target: 70% meeting least “aligning” criteria
Asset classes in scope: Listed equity and corporate fixed income
Data sources: CA100+ benchmark, Transition Pathway Initiative, SBTi
Asset level – Engagement threshold target
Target: 70% of financed emissions (in material sectors) that are either already meeting net zero “aligned” criteria or that will be subject to direct or collective engagement & stewardship actions.
Methodology: Rather than try to ‘optimise’ a fair share of the 50% reduction, the NT aims to achieve more than its fair share of the reduction through accelerated decarbonisation of the portfolio and significant targets for investment in climate solutions.
Fossil fuel investment: The NT avoids any investment in businesses with material production of coal or other fossil fuels. See how we’re changing our investment policy.
Operational emissions: Operational emissions are targeted to be net zero by 2030.