Committed to net-zero portfolio emissions by 2040 or sooner
With interim carbon footprint reduction targets from a 2021 baseline (tCO2-eq/$M invested):
16.5% by 2025 and 60% by 2030
Climate Action Plan Progress Highlights
Reducing our portfolio carbon footprint
We annually calculate and report our portfolio carbon footprint, which is an analysis of the emissions associated with our investments. Our portfolio carbon footprint decreased by 4% in 2022 from our 2021 baseline, driven primarily by portfolio changes as well as a reduction in emissions intensity within many of our asset subclasses.
We are committed to continuously improving the quality of our data and methodology for determining our carbon footprint. In 2022, we revised our process to estimate with greater accuracy the GHG emissions of investee companies that do not disclose this data. To maintain comparability in our year-over-year reporting and the integrity of our targets, we have restated our 2021 footprint under the revised methodology.
For more information:
UPP’s Climate Transition Investment Framework
UPP’s Climate Transition Investment Framework is an essential foundation to our net-zero strategy that will enable us to systematically evaluate the transition alignment and readiness of our current portfolio and new investment opportunities.
Engaging companies to drive credible climate plans and disclosures
Undertaking climate-related scenario analysis
UPP is making progress on our first systemic scenario analysis to understand how climate risks (both transition and physical) might impact the Plan’s assets and broader capital markets under different climate-related scenarios and time horizons.
Joining the UN-convened Net-Zero Asset Owner Alliance
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