Astorg
Astorg is a global private equity firm managing €21 billion in assets, with offices in London, Paris, New York, Milan, Frankfurt, and Luxembourg. They joined the Net Zero Asset Managers Initiative in July 2022 and made their Initial Target Disclosure in April 2024.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
97% of total AUM (USD $16.9 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio coverage baseline
2021: 0% portfolio companies setting a Science Based Target
Target(s):
Portfolio coverage target
30% of private equity investments by invested capital will have set Science Based Targets by 2025, and 100% by 2030
GHG scopes included:
Astorg set Science Based Targets covering scope 1,2 and 3 in line with Science Based Target initiative for Financial Institutions guidance.
Astorg commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2020 base year. Astorg commits that 30% of its PE investments by invested capital will have set science-based targets by 2025 and 100% by 2030 from a 2021 base year.
Methodology:
Science Based Target initiative for Financial Institutions
Scenario(s):
Science Based Target initiative for Financial Institutions to align emissions reductions with a 1.5 degrees Celsius pathway.
Additional information
Proportion of AUM committed:
Based on the SBTi guidance for Private Equity, investments where Astorg has < 25% ownership have been and will be excluded from total AUM committed to be in line with net zero.
Policy on coal and other fossil fuel investments:
Sustainability Policy (https://s3.eu-west-3.amazonaws.com/astorg-web/vol/responsibility/Astorg-Sustainability-Policy-2024- vLight.pdf)
Astorg refrains from investing in certain sectors or business activities that it believes to be detrimental to society and the environment, which include direct equity investments in companies that generate revenue from some economic activities listed in our sustainability policy. For Oil & Gas, our exclusion policy refers to thermal coal extraction and coalfired power generation; or exploration, extraction and refining of oil, gas and other non-renewable natural resources, other than where this is to support decarbonisation.
Further information:
Sustainability Policy (https://s3.eu-west-3.amazonaws.com/astorg-web/vol/responsibility/Astorg-Sustainability-Policy-2024-vLight.pdf)
Astorg Responsibility (https://www.astorg.com/responsibility)