IFM PE portfolio achieves carbon neutrality
IFM has announced all companies in its private equity portfolio have achieved carbon neutrality as part of IFM’s commitment to reducing greenhouse gas emissions.
The superannuation-owned fund manager was aiming to reduce greenhouse gas emissions across its asset classes, targeting net zero by 2050.
IFM said the companies in the private equity portfolio were those which were actively pursing emission reduction initiatives as a priority.
This included purchasing verified carbon offsets which enhanced biodiversity in Australia and delivered additional social, cultural and environmental co-benefits in order to compensate for organisational emissions.
Head of private equity, Stuart Wardman-Browne, said: “This is an important milestone for IFM Private Equity and the portfolio companies we work with. We are focused on building successful, sustainable companies with cultures that authentically engage teams, customers and other stakeholders.
“Cultivating purpose-driven cultures, promoting fair and inclusive workplace practices, and reducing our portfolio’s carbon footprint are key elements of our responsible investment approach and integral to creating value for our investors and their members and beneficiaries.”
IFM was also part of the Investor Group on Climate Change’s Climate League 2030 which pledged to support and act deeper Australian emission reductions of at least 45% below 2005 levels by 2030.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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