Russell Investments will hold itself “to the same standard” as investee companies by committing to make its portfolio and global business carbon-neutral by 2050.
Russell Investments has announced that it will achieve net-zero carbon emissions for its investment portfolios globally, building on its “well-established” goal of constructing portfolios that generate long-term sustainable value while recognising the increasing investment risk of climate change.
“Russell Investments is focused on constructing investment portfolios that generate long-term sustainable value, and climate change will likely have a material impact on investment outcomes in the coming years,” said Russell chief executive and chairman Michelle Seitz.
“We don’t take this pledge lightly. We will work to evolve our investment approach and take the necessary steps to achieve this net-zero goal while continuing to deliver on our fiduciary obligations to clients.”
Russell – which has US$326.9 billion in assets under management and US$2.5 trillion in assets under advisement – has joined the Net Zero Asset Managers Initiative, a group of international asset managers committed to supporting the goal of net-zero greenhouse gas emissions by 2050 or sooner. It will also add roles to its responsible investing team and establish a global taskforce to develop its net-zero emissions transition plan.
“Our commitment to investments with net-zero carbon emissions further develops our long-established approach to responsible investing,” said responsible investing head Jihan Diolosa.
“Sustainability risks are already a consideration in our investment practice including manager research and selection, portfolio management, proxy voting and shareholder engagement…We realize there isn’t an overnight solution to climate change, but we are working diligently to make a difference.”