IFM sets emissions target for portfolio
IFM Investors has set a target of 40 per cent lower carbon emissions for its key infrastructure portfolio by 2030, laying the groundwork for the entire $174bn fund to achieve net zero emissions by 2050.
The transition target, which uses the comparative emissions level in 2019 as its base, will be adjusted annually for divestments and investments.
IFM, which is a major investor for industry super funds, has also changed its investment decision-making processes to help ensure that new acquisitions are aligned with net zero by 2050.
IFM chief executive David Neal said he liked to think that IFM was “leading the way” in decarbonising its infrastructure portfolio.
“These are long-term essential services that we’re overseeing, and many of them have quite challenging emissions footprints and are difficult to grapple with,” Mr Neal said.
“We want to encourage others and be encouraged by others because we’re all on the same journey.”
IFM is owned by 27 not-forprofit industry superannuation funds.