Allocate capital to climate change investments
This goal replaces our initial goal of allocating 1% of funds under management (FUM) to climate-related investments.
Our initial goal was, in part, established to encourage investment and knowledge sharing across our portfolio. In 2023, we developed an internal framework to measure our exposure to climate change investments across the portfolio and identified that we had far exceeded our 1% goal.
This level of maturity in our exposure to climate change investments demonstrated that an evolution in our approach away from a standalone 1% allocation was warranted. The decision was made to absorb all investments within the 1% allocation back into their relevant asset classes, and to continue monitoring our exposure to climate change investments across the portfolio annually.