New step on our path towards a net zero portfolio
APG today published its Climate Action Plan as required by the Commitment of the Financial Sector to the Dutch Climate Agreement, outlining our 2030 goals towards a Net Zero portfolio in 2050.
In 2030, we aim to have reduced the absolute CO2 footprint of our listed equity and credit portfolios by 50 percent compared to 2019. In addition, we apply strict climate criteria for companies to be investable and outline clear climate expectations in our stewardship activities, including engagement and voting.
APG is committed to contributing to the goal of the Paris Agreement to limit global warming to 1.5 ⁰C. We are therefore aiming for a Net Zero emissions portfolio by 2050 or sooner. Our Climate Action Plan sets out our goals and ambitions for 2030 on the pathway towards ‘Net Zero’. This includes reducing the portfolio’s carbon footprint and investing in climate solutions on behalf of our clients.
The Dutch Climate Agreement aims to reduce greenhouse gas emissions in line with the Paris objective. In the Commitment of the Financial Sector, APG has voluntarily committed to the Dutch Climate Agreement. The signatories pledge to measure the carbon footprint of their relevant investments and to announce action plans by 2022, including targets aimed at reducing the climate impact of their investments for 2030.
Our approach is based on measuring the CO2 footprint of our investments, steering the portfolio towards Net Zero emissions in 2050 or sooner and – on behalf of our clients – investing in solutions that contribute to the transition towards a low-carbon economy.