Sprint Net Zero 2024
As climate change is a global challenge, we propose to investors to join our second edition of the “Sprint Net Zero”. Our goal : 100% of the companies in our portfolios have a Net Zero plan approved by 2025.
The first and essentiel step to reach this goal is the commitment to Net Zero, to set a tone from the top and drive decarbonation.
As climate change is a global challenge, Trusteam Finance propose to investors to join its second edition of the “Sprint Net Zero” engagement campaign. Our goal : by 2025, 100% of our funds invested on companies with a Net Zero plan approved by SBTi.
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: take advantage of the upcoming proxy season to encourage all targeted companies to Net Zero.
Last year, Trusteam launched a Sprint to meet its 2022 target before year end. We opened this initiative to other investors who have also Net Zero ambitions and would benefit from a success of this engagement. Today, the objective is to take advantage of the upcoming proxy season to follow-up on this previous engagement campaign.
The escalation policy of this campaign is classical : escalation in voting policy and publicly signal if lagging or fail minimum asks.
- Courtesy email
- Formal letter
- Public flagging
- Written AGM questions
A meeting (via Teams) will be organised on October 26th, 2023 to present the initiative, inscription link below :
- 11:00 in English - Replay available here https://www.youtube.com/watch?v=mkHH7np1hUk
- 11h30 en français - Replay available here https://www.youtube.com/watch?v=B1RIZXOJW-w
Weekly meetings are organised to give updates on the campaign and take feedbacks from collaborative investors.
If you are interested, join this PRI group, fill this form or contact Claire BERTHIER ([email protected]) directly for any further information.
- 31/12/2024 : 100% of target companies committed, one way or another, to Net Zero
- 2025 : 100% of target companies have a Net Zero plan approved by SBTi
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”.
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.
- 20231025 Companies List.xlsx
- 2023.10.26 Sprint Net Zero 2024 - Webinar.pdf
- Climate change
- Net Zero / Paris aligned
- Consumer Discretionary
- Consumer Staples
- Health Care
- Information Technology
- Telecommunication Services
- 13 - Climate action
- Listed equity