Proportion of AUM to be managed in line with net zero: All publicly traded equities at Ecofin (Energy Transition, Global Renewables Infrastructure, Sustainable Listed Infrastructure, Global Water, as well as the public sleeve of TEAF) as of 12/31/21 totaled $1.3B or 68% of total Ecofin’s overall AUM.
If less than 100% AUM is initially committed, a brief explanation of why the proportion is the maximum currently achievable and how it will increase over time: The covered assets represent all of Ecofin’s publicly traded equity strategies and any future public equity strategies we currently anticipate we may launch. We intend to continue engaging with all investments and clients to encourage them to adopt science-based greenhouse gas reduction targets and commit to net zero emissions by 2050. There is not currently an approved methodology appropriate for us to measure and set targets for our private infrastructure and fixed income investments. We
will continue working with network partners to assess methodologies and will include these assets into our commitment as it is practical to do so.
Baseline Year: The baseline year is 2020. As of 12/31/20, 22% of our publicly traded companies had made or are publicly committed to a Science Based Targets initiative (SBTi) approved science based target (SBT).
Target Year: The target year is 2030.
Quantified target(s) to be achieved by target year: Targeting 75% of covered assets will have approved or have committed to making SBTs for reducing GHG emissions, approved by SBTi by December 31, 2030.
Methodology used to set targets: SBTi for Financial Institutions – Portfolio Coverage methodology
Coverage of Scope 1, 2 and extent of Scope 3 coverage of financed emissions: SBTi for Financial Institutions – Portfolio Coverage methodology
Underlying science-based net zero scenarios/pathways from which targets are derived: SBTi for Financial Institutions – Portfolio Coverage methodology