Following a letter to the Chancellor of the Exchequer from leading UK companies requesting mandatory disclosures of net-zero emissions plans,
Carlota Garcia-Manas, head of engagement at Royal London Asset Management (RLAM) said:
“We are reaching a pivotal moment in the Net Zero commitment; we are seeing rapid uptake in the number of companies, from a wide range of industries, disclosing emissions and putting forward their targets and ambitions.
“For commitments to be credible, robust climate transition plans should be put forward. How companies plan to reach Net Zero is equally as important as reaching it.
“RLAM favours companies that both measure and manage the social impact of their climate action, alongside companies that limit quality offsets to residual emissions and inform their strategy with the latest science. As an asset manager with a commitment to reach Net Zero by 2050 in our portfolio, it is crucial that companies we invest in align their trajectories to Net Zero; this is the only way we can achieve a Net Zero economy and not just a Net Zero portfolio.
“We are calling for the government to make disclosure of Net-Zero transition plans mandatory. To fulfil The Paris Agreement, we are also asking for further guidance on how to formulate and assess these plans.”
Notes to Editors
Leading UK companies including Royal London Asset Management and various FTSE companies and financial institutions responsible for over £4.5 trillion GBP. The letter was written to the Chancellor and Secretary of State for the Department of Business, Energy and Industrial Strategy calling on the UK Government to make a landmark announcement ahead of the UN Climate Change Conference (COP26) to make the disclosure of net-zero transition plans mandatory for large companies. Signatories include FTSE 100 companies ranging from BT to Kingfisher, and financial institutions from RLAM, to Legal & General Investment Management (LGIM) to Santander, as well as industry groups such as the Association of British Insurers (ABI) and civil society organisations such as WWF.
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £153 billion of assets and employs 126 investment professionals as at 30 June 2021. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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