IFM Investors has achieved carbon neutrality across its entire private equity portfolio as the firm works towards reaching net-zero emissions by 2050.
Every company in the global funds manager’s private equity portfolio has been fully certified as carbon neutral by Climate Active in line with standards set by the Australian government.
“This is an important milestone for IFM Private Equity and the portfolio companies we work with,” said IFM Investors head of private equity Stuart Wardman-Browne.
“We are focused on building successful, sustainable companies with cultures that authentically engage teams, customers and other stakeholders.”
Mr Wardman-Browne said that the firm’s private equity team is believed to be the first PE team in Australia to reach full carbon neutrality.
“Cultivating purpose-driven cultures, promoting fair and inclusive workplace practices and reducing our portfolio’s carbon footprint are key elements of our responsible investment approach and integral to creating value for our investors and their members and beneficiaries,” he said.
Companies in IFM’s private equity portfolio, including My Plan Manager, Payapps and Genie Solutions, purchased verified carbon offsets to compensate for their organisational emissions and achieve carbon neutrality in the short term.
These companies will continue to actively pursue emissions reduction initiatives and prioritise gross emissions reduction according to IFM.
“The carbon neutrality achievement is part of a broader strategy to create long-term value in our private equity portfolio companies through a responsible investment approach to climate change, social inclusion and strong governance,” the firm said.
IFM noted that a number of its portfolio companies had recently been awarded for their achievements in diversity, innovation and growth.
The industry super fund-owned global funds manager had $179 billion in assets under management as of September 2021.
Commonwealth Bank announced last month that IFM had invested $200 million in a new environmental, social and governance term deposit from the bank in a first for the local market.
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Jon Bragg
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
