Climate change

We focus our energy in this area on five principal areas, as shown in the chart below: Policy Advocacy; Product Governance; Portfolio Management; Persuasion; and Positive Impact.

We also regularly publish on our own plans and performance in this area – far beyond the regulatory requirements. Our annual RI & Stewardship Outcomes Report considers our performance in meeting our RI goals – including on climate change; our annual Carbon Metrics Report shows the exposure of all our active holdings; and our TCFD Climate Action Plan reports on our progress around climate metrics and targets.

We published our first Climate Change Policy in 2020. In 2022, we embarked on a Climate Stocktake to review that Policy. Following an extensive consultation and review that considered each of the five areas below, in February 2023 we published our new Climate Change Policy 2023-30.