Global institutional funds manager IFM Investors infrastructure portfolio’s financed emissions represented over 3,000,000 tonnes of carbon dioxide in FY2017, according to its 2018 Infrastructure Carbon Footprint Report.
Released yesterday, the report revealed that of this, 2,619,353 tonnes were from its global infrastructure portfolio and 540,702 tonnes from its Australian counterpart.
This represented a decline in carbon emissions intensity, meaning the tonnes of carbon dioxide emitted per million dollars invested. For global infrastructure, there was a 16 per cent decrease in IFM’s carbon intensity, and for Australian infrastructure, there was a 13.6 per cent drop.
IFM Investors cited not just environmental concern but also the investment risk of climate change as key drivers of its push to reduce emissions, saying that its environmental, social and economic consequences could impact value of the short, medium and long-term.
“Setting reduction targets and being accountable to these targets is key to protecting our investment value and delivering environmental benefits for society,” the firm’s executive director of responsible investment, Chris Newton, said.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
Add new comment