Jupiter Fund Management has announced its commitment to achieving net zero emissions by 2050 across its full range of investments and operations, in line with the Paris Agreement, that stablishes the need to limit global warming to less than 1.5°C.
In a press release, the asset manager has revealed that, by the end of this year, it will have defined a detailed roadmap including milestones and targets for achieving this ambition across its 61.4 billion euros investment range, including interim targets for 2030. At the same time, it is aligning with the UN Global Compact (UNGC).
“In line with the Compact, all our investment decision-making and engagement will be guided by the principles of the UNGC and all investee companies will be expected to abide by the Compact’s Ten Principles, committing to meeting fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption”, Jupiter said.
The company has also become a member of the Good Work Coalition. Consequently, across its flagship UK equities business, it will encourage all investee companies to pay a living wage to their employees and will push for better working conditions and reduced workplace inequality, in partnership with ShareAction and other members of the Coalition. “This move reflects Jupiter’s responsibilities as a UK company, its strong stewardship and governance framework and deep investment reach across its home market”, they insisted. To demonstrate this commitment, they will also accredit as a Living Wage Employer.
At its corporate level, Jupiter has already made significant progress in planning for achieving its net zero emissions target. As part of this plan, it has also announced its partnership with Forest Carbon, a not-for-profit scheme providing woodland carbon capture projects in the UK. By investing in woodland creation in the UK, the company is not only removing carbon emissions but also facilitating flood alleviation, habitat creation, employment, public access and cleaner air, benefiting wider society in line with its corporate purpose.
In addition, over the course of the year, the asset manager will further enhance its disclosure on the total Scope 1,2 and 3 emissions produced by its operations and will set operational emissions targets consistent with its net zero objective.
A commitment with sustainability
“Today’s raft of announcement builds on Jupiter’s position as a long-standing supporter of sustainable and responsible investing. We believe that the future is better served by sustainable companies with strong environmental credentials, and it is imperative that we work together as a company, an industry, and a society to tackle climate change. I am pleased at the progress Jupiter is making towards this at both an investment and company level”, Andrew Formica, CEO, said.
In this sense, he pointed out that as a high conviction and active manager, they have a responsibility and an opportunity to do all they can to influence the companies they invest in to adopt more sustainable businesses. “The transition to net zero carbon emissions is imperative but improving wider societal and governance standards is also crucial. Along with net zero commitments, initiatives that align with the wider sustainability agenda, such as the UNGC principles and Good Work Coalition, will result in long term gains for all stakeholders”, he added.
Last month, Jupiter announced a number of senior appointments within its sustainability suite, reinforcing its commitment to this strategically important client proposition which offers clients a range of differentiated investment options with a shared goal of generating attractive returns through long-term sustainable investing.
For Funds Society, Madrid
