2025 Report shows major progress across Brunel portfolios on emissions and reserves exposure
Brunel Pension Partnership has published its final Climate Change Progress Report, which captures progress against its climate goals across 2025.
In 2025, Brunel took its aggregate reduction in reserves intensity to 92% (vs the 2019 baseline), while its aggregate carbon intensity ended the year at 54%.
Furthermore, since setting the target in 2023, Brunel has raised the percentage of Paris-aligned targets across our AUM from around 50% to 100% of in-scope assets – or approximately 92% of our total AUM.
“Once again, our yearly climate snapshot captures both our 12-month progress – and the longer trajectory,” said Laura Chappell, Chief Executive Officer. “I am enormously proud of the work across the partnership to deliver progress on both counts. It shows others what is possible.”
Collaboration, stewardship and engagement
The report also demonstrates Brunel’s ongoing collaboration with key partners across the industry – and the recognition they have provided.
Climate Action 100+ (CA100+), an investor-led initiative, has identified 164 companies as the world’s largest greenhouse gas emitters. The CA100+ index and disclosure index as part of our Climate Alignment monitoring (explained in the report from p.44). Of the CA100+ index Brunel had exposure to 122, making them a focus for engagement. The report demonstrates that, of the 122 we have exposure to:
- 84% have a Net Zero commitment
- 98% have Board-level oversight
- 96% are committed to basic aspects of the TCFD framework
Across the companies we are invested in, 70% of financed emissions in material sectors are either aligned, aligning or subject to direct or collective engagement and stewardship actions for all listed equity and corporate bonds by June 2024, increasing to 90% by June 2027.
The impact of our work with asset managers is likewise clear. Through persistent and persuasive engagement, 90% of managers overseeing our Cycle 3 and Cycle 4 private debt portfolios have pledged their commitment to carbon emissions reporting.
Case studies, tables and infographics, meanwhile, demonstrate Brunel’s engagement on banks, infrastructure portfolios, and the Asset Owner Statement on Climate Stewardship, to name just three.
“We built our approach to climate change on five pillars: policy, products, portfolios, positive impact, and persuasion,” said Faith Ward, Chief Responsible Investment Officer at Brunel. “As an investor, that underpinning has enabled us to address the challenge and opportunity of climate change from multiple angles. The report demonstrates success in all these areas, not only in 2025, but since we launched our first Climate Change Policy. We have made this progress by working closely with a range of industry partners. As we approach wind-down, we call on them to build on that progress.”