Artemis Investment Management LLP
Artemis is a leading UK–based fund manager, offering a range of funds which invest in the UK, Europe, the USA and around the world. Artemis is a dedicated, active investment management house, specialising in investment management for both retail and institutional investors. Artemis joined the Net Zero Asset Managers Initiative in November 2021 and made its Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
80% of total AUM (USD $23.9 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio decarbonisation reference baseline
63 tCO2e / $mn invested
Target(s):
Portfolio decarbonisation reference target
-50%
GHG scopes included:
We currently use reported and estimated data for GHG emissions scopes 1 and 2 as the basis for our firm-wide decarbonisation target. We will retain the overarching target (of 50% reduction by 2030 versus 2019) but will refine and extend the baseline to include material, firm-wide scope 3 GHG emissions as data quality improves. We are internally tracking scope 3 emissions using estimates from a 3rd party data provider as we are not currently satisfied with the quality of reporting from companies on scope 3 emissions.
Methodology:
Net Zero Investment Framework
Scenario(s):
Our approach has drawn on the IPCC special report on global warming of 1.5°C and mirrors the approach/methods being adopted by CA100+, TPI and SBTI.
Additional information
Proportion of AUM committed:
Where data is available, Article 8 and 9 funds under SFDR (or similar) are included in our commitment but not cash and derivatives as methodologies are not currently available.
For the remaining funds and segregated accounts, we have included all developed market listed equities and currently exclude:
-emerging markets and corporate bonds as it is more challenging to develop targets and therefore we need more time to develop our approach
-sovereign bonds as we have not decided on an appropriate methodology for setting targets but are monitoring the ASCOR project.
The proportion of AuM will increase as methodologies develop and better-quality data becomes available from third party providers and companies, and we are working with them to support these efforts.
Policy on coal and other fossil fuel investments:
No. We have explicit fossil fuel and coal investment restrictions for some of our funds. At a firm level, we intend to review our approach to coal investments during 2022-3 and expect that we will introduce a policy to phase out coal usage for developed markets by 2030.
Further information:
Further information on some of our stewardship activity including on climate can be found in our 2021 Stewardship Report