Royal London, the UK’s largest mutual life, pensions and investment company, has announced its commitment for net zero carbon emissions across its investment portfolio by 2050.
It aims to reduce its carbon emissions from the investment portfolio by 50% by 2030, in addition to developing climate solutions that enable customers to invest in the low carbon transition.
The company is also targeting net zero direct operational emissions by 2030.
In addition, it plans to call for “decisive collective action”, asking regulators to consider climate change alongside product outcomes and the government to promote policies that reward those who act responsibly and “do the right thing”.
Barry O’Dwyer, Group Chief Executive said: “We all want to spend our lives in a climate where our homes aren’t put at risk by extreme weather events and we have access to sustainable sources of food. So customers’ money must be invested responsibly in a way that supports the changes needed to protect the planet.
“This is not the time to be passive. The biggest way Royal London can make a difference in the fight against climate change is through an active investment approach. We are engaging with the largest carbon emitters in our investment portfolio to influence their behaviours and to ensure they have ‘Just Transition3’ plans in place that consider the impact the changes will have on society.”