Jupiter Fund Management today pledged to achieve net zero emissions by 2050 across its range of investments and operations, reflecting the 'urgent need to limit global warming to less than 1.5°C in line with the Paris Agreement.'
The company committed to define a detailed roadmap including milestones and targets for achieving this ambition across its £55.7bn investment range, including interim targets for 2030, by the end of this year.
At the same time, Jupiter is aligning with the UN Global Compact (UNGC) on its strategy, purpose and principles. In line with the Compact, all the company's investment decision-making and engagement will be guided by the principles of the UNGC and all investee companies will be expected to abide by the Compact's Ten Principles, committing to meeting fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption.
At Jupiter we believe that the future is better served by sustainable companies with strong environmental credentials."
Separately, Jupiter has become a member of the Good Work Coalition. Across its flagship UK equities business, the firm will encourage all investee companies to pay a living wage to their employees and will push for better working conditions and reduced workplace inequality, in partnership with ShareAction and other members of the Coalition. This move reflects Jupiter's responsibilities as a UK company, its strong stewardship and governance framework and deep investment reach across its home market. To demonstrate this commitment, Jupiter will also accredit as a Living Wage Employer.
Jupiter today also announced its partnership with Forest Carbon, a not-for-profit scheme providing woodland carbon capture projects in the UK.
By investing in woodland creation in the UK, the company is not only removing carbon emissions but also facilitating flood alleviation, habitat creation, employment, public access and cleaner air, benefiting wider society in line with its corporate purpose. In addition, over the course of the year, Jupiter will further enhance its disclosure on the total Scope 1,2 and 3 emissions produced by its operations and will set operational emissions targets consistent with its net zero objective.
Commenting on these developments, Andrew Formica, CEO, Jupiter, said: "Today's announcements build on Jupiter's position as a long-standing supporter of sustainable and responsible investing. At Jupiter we believe that the future is better served by sustainable companies with strong environmental credentials, and it is imperative that we work together as a company, an industry, and a society to tackle climate change. I am pleased at the progress Jupiter is making towards this at both an investment and company level."
Formica added: "As a high conviction, active manager of our clients' money, we have a responsibility and an opportunity to do all we can to effect change by engaging with and influencing the companies we invest in to adopt more sustainable businesses. The transition to net zero carbon emissions is imperative but improving wider societal and governance standards is also crucial."
"Along with net zero commitments, initiatives that align with the wider sustainability agenda, such as the UNGC principles and Good Work Coalition, will result in long term gains for all stakeholders."