Sprint Net Zero 2022

8 members

As climate change is a global challenge, we propose to investors to join our “Sprint Net Zero 2022” engagement program. The first but essential step to Net Zero is the commitment of underlying companies to Net Zero: it sets a tone from the top and drives the strategy to full decarbonation. Classical private campaign, measurable and short term outcome

Collaboration details

As climate change is a global challenge, Trusteam Finance propose to investors to join its “Sprint Net Zero 2022” engagement campaign.

The first but essential step to Net Zero is the commitment of underlying companies to Net Zero: It sets a tone from the top and drives the strategy to full decarbonation. Designed as a classical private campaign, the goal is clear: commitment of all targeted companies to Net Zero before 31/12/2022

As we enter the last quarter of the year, Trusteam launches a Sprint to meet its 2022 target before year end. We open this initiative to other investors who have also Net Zero ambitions and would benefit from a success of this engagement.

This is a classical private campaign (private letters and follow up calls) with the following calendar [=> Collaboration opportunity] 

  • October: Contact IR to set expectations [=> send emails or coordinate action if willingness to lead]
  • November: Send letters to CEO / Chairman to formally ask for a Net Zero commitment [=> sign the letter]
  • November / December: Follow up calls with companies to clear our expectations, listen to their hurdles and how to cross them [=> participate in meetings]
  • January: Sum-up [=> Share feedbacks]

Webinars in French and English will be organised on Novembre 10th, 2022 to present the initative, inscription link below : 

If you are interested, join this PRI group, fill this form or contact Claire BERTHIER (cberthier@trusteam.fr) directly for any further information

Objectives

100% of target companies committed, one way or another, to Net Zero before 31/12/2022

Clear, measurable and simple

Why this objective ?

One year ago, before COP 26 we took at Trusteam a commitment: we wanted 90% of all companies in our SRI portfolio to be committed to “Net Zero by 2050”. By that time, as only 38% were on that way, it seemed ambitious, almost fullish. One year later, we are pleased to see that on average 77% of our SRI funds are underway.

However this is not enough. One way or another, commitment to Net Zero is the very first step for all companies. Discussing pathway methodology and specific metrics will come afterwards, once we have agreed on the common goal. Investor then will have the opportunity to discuss specific expectations. However, the first step is this Tone from the Top, a “CEO Call”, a call to Net Zero.

And this is more important than ever: from the latest survey we have conducted with l’Obsoco on this topic, we know that 68% of French consumers consider that large companies are not acting enough on climate change (detailed results available here) whereas 79% of French people surveyed say they are concerned about it. Not acting could lead to customer distrust and then material financial impacts. We think that driving awareness and setting expectation is port of our role as responsible investor

What is a target company ?

Currently the target list match the underlying companies in Trusteam scope (cf. list in the file tab). However we could broader the list if some investors would be interested. 

Why "one way or another" ?

We want company to start up. Commitment is a good way to begin acting. Quick decision can be made. Then we will continue to engage with them to push for more crediblility (eg. SBTi Commitment, Decarbonation plan, Capex commitment, Paris Aligned Account, Reponsible Lobby...) but complexity or "not knowing enough" should not be an excuse not to commit.

Created on
ESG theme
  • Environment
ESG sub-theme
  • Climate Change
Sector
  • Consumer Discretionary
  • Consumer Staples
  • Financials
  • Health Care
  • Industrials
  • Information Technology
  • Materials
  • Telecommunication Services
Sustainable Development Goal
  • 13 - Climate action
Geography
  • Global
Asset class
All
Asset class subcategory
  • Corporate (financial)
  • Corporate (non-financial)
  • Environmental & social themed investing
  • Impact investing
  • Listed equity
  • Private debt