a.s.r. Asset Management
a.s.r. Asset Management is a Dutch asset manager headquartered in Utrecht, Netherlands. It joined the Net Zero Asset Managers Initiative on 11 December 2020 and its initial target disclosure was published on 1 November 2021.xx
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
60% of total AUM (USD $36 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio coverage baseline
We are currently working through a combined and weighted baseline metric, to expand the scope to include other asset classes.
Portfolio decarbonisation reference target
50% reduction in emissions intensity. However, we are currently re-evaluating this percentage to further increase our ambition.
GHG scopes included:
We currently include Scope 1 & 2 emissions and aim to include Scope 3 once data is sufficiently available and of sufficient quality.
Science Based Target initiative for Financial Institutions
P2 emissions pathway from the IPCC special report on global warming of 1.5°C, deriving a 7% year-on-year reduction from that (corresponding to the UN Production Gap percentage for 2020-2030). We expect the P2 emissions pathway to be updated in the WG3 section of the IPCC AR6 report.
Proportion of AUM committed:
We are the inhouse asset manager for ASR, the Dutch insurance company. For our proprietary investments we manage inhouse on behalf of ASR Nederland (our asset owner) we have set the follow interim target, for the asset classes listed equities, credits, and sovereign debt. We have targets for our investment portfolios in fixed income and equities (for our proprietary assets and on behalf of policy holders).
We are currently working through setting reduction targets for our proprietary investments in real estate and mortgages, which will bring our coverage to around 80%, leaving cash, equity associates and certain loans to still work through.
Policy on coal and other fossil fuel investments:
We have a formal exclusion policy on coal and non-conventional oil extraction. We are working through expanding this formal policy towards a science-based policy on conventional oil & gas. https://asrvermogensbeheer.nl/media/x3enexto/asr-nederland-sri-policy_en.pdf
Target Setting: Our reduction targets are based on an increasingly stringent exclusion policy with respect to fossil fuels (informed by the most recent climate science and energy production insights) combined with achieving real world impact through active ownership and taxonomy-aligned (green) investing.
Besides an increasingly stringent exclusion policy for high GHG emitting sectors, we have targets on impact investing across all our asset classes. We have aligned these AUM targets as much as possible with investing in climate solutions; thereby lowering our portfolio footprint while realising real world impact.
Besides the abovementioned target, we have a series of ESG instruments which launched in 2017, which are also available to our institutional clients. The funds invested in listed equities have set their own 2030 carbon reduction targets in line with the pathway of the EU Paris Aligned Benchmark (PAB).
We are a signatory to, or a user of, relevant methodologies such as CA100+, SBTi, PACTA and PCAF.