Brewin Dolphin, the wealth manager, announces it has joined the Net Zero Asset Managers initiative as the company launches its ambition to become a net zero company by 2050 or sooner.
Setting a net zero greenhouse gas emissions ambition is consistent with the company's responsible and long-term investment philosophy and client-centric approach.
Over the course of the next twelve months, Brewin Dolphin commits to setting interim targets for its investments and operations to make sure it reaches net zero by 2050.
The targets will tackle both the emissions of Brewin Dolphin's own operations as well as those of the companies in which it invests.
In recognition of the critical challenge faced by companies in transitioning to a low carbon economy, Brewin Dolphin aims to engage constructively with companies and funds within its portfolios to encourage them to disclose climate risks, set targets and make progress towards these targets. Brewin Dolphin already considers emissions as part of its ESG integration process and will continue to assess net zero targets as part of its research approach. Data tracking will be implemented to monitor the emissions, targets and progress of overall investment portfolios.
Brewin Dolphin's efforts around its own business will focus on sources of emissions that are both material in size and have alternatives available. This includes Brewin Dolphin's office network, which will prioritise a shift to renewable energy, and business travel, specifically around smarter and more efficient ways to travel.
Robin Beer, chief executive at wealth manager Brewin Dolphin, said: "I see climate change as one of the biggest global challenges, and Brewin Dolphin will play its part addressing this issue. Brewin Dolphin is setting a net zero target because as a responsible business and investor we believe this is the right thing to do for our clients, our people, and our shareholders.
By setting a target and joining the Net Zero Asset Managers Initiative, we are sending a signal to the companies and funds that we invest in that we want to see their plans and progress towards a net zero future. This is a natural step for us, aligned with our values and our long-term investment approach, and underlines the importance of our stewardship and responsible ownership activities. At the same time, it's the first step in an important and exciting journey - in the long-term, this goal will shift how we operate as a company. We look forward to sharing our interim targets over the coming months."
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