Jupiter Commits to Net-Zero Emissions

    Stockholm (NordSIP) – As a rising chorus of governments, companies and asset managers recognises the need to be an active participant in the energy transition, the necessity of net-zero CO2 emission commitments becomes increasingly apparent for all to see.

    In echoes of this mounting trend, Jupiter Fund Management recently committed to achieving carbon neutrality across the full range of its investments and operations by 2050, in line with the Paris Agreement. The net-zero carbon emissions commitment follows a revamp of Jupiter’s sustainability team at the end of last month.

    The fund manager made another five announcements related to its commitment to climate change mitigation. In the context of its journey towards net/zero emissions, Jupiter also reported it will define a detailed roadmap including milestones and interim targets for 2030 across its US$71.9 billion investment range, by the end of this year. On the same occasion, the fund manager also stated it will align its strategy, purpose and principles with the UN Global Compact (UNGC), whose ten principles on human rights, labour, environment and anti-corruption will guide its investments and engagements.

    Jupiter also announced it had joined the Good Work Coalition, which brings together institutional investors to collaboratively engage on workforce issues, including the Living Wage, diversity and inclusion and insecure working practices. Jupiter is also partnering with Forest Carbon, a non-profit scheme providing woodland carbon capture projects in the UK, to counteract its own carbon emissions but to also facilitate flood alleviation, habitat creation, public access and cleaner air, among other environmental contributions. Last but not least, the company will also disclose the total Scope 1,2 and 3 emissions produced by its operations and set operational emissions targets consistent with its own corporate net-zero objectives.

    “Today’s raft of announcement builds on Jupiter’s position as a long-standing supporter of sustainable and responsible investing,” Andrew Formica (Pictured), CEO of Jupiter Asset Management, said. “At Jupiter 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.”

    “As a high conviction, active manager of our clients’ money, we have a responsibility and an opportunity to do all we can to affect change by engaging and influencing the companies we invest in to adopt more sustainable businesses,” Formica added. “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.”

    Image courtesy of Jupiter Asset Management

    Filipe Albuquerque
    Filipe is an economist with 8 years of experience in macroeconomic and financial analysis for the Economist Intelligence Unit, the UN World Institute for Development Economic Research, the Stockholm School of Economics and the School of Oriental and African Studies. Filipe holds a MSc in European Political Economy from the LSE and a MSc in Economics from the University of London, where he currently is a PhD candidate.

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