ATLAS Infrastructure is a long-only equities fund manager specializing in global listed infrastructure with offices in the United Kingdom and Australia. It joined the Net Zero Asset Managers Initiative on 11 December 2020 and its initial target disclosure was published on 1 November 2021.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $2 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio decarbonisation reference baseline
172 tCO2 / $mn (Calculated on EVIC basis)
Portfolio decarbonisation reference target
66% reduction in Scope 1 & 2 by 2030 (calculated on EVIC basis). This equates to a 1.5°C pathway under the SBTi pathways.
Portfolio coverage target
Consistent with the PAII Net Zero Investment Framework, ATLAS categorises companies on their level of alignment to a Net Zero pathway. The categories are:
• Currently Net Zero aligned (Consistent with IIGCC’s category of “Achieving Net Zero”)
• Aligned with Paris pathway (Consistent with “Aligned to a Net Zero Pathway”)
• Potential to align (Broadly consistent with “Aligning to net zero pathway and Committed to aligning”)
• Misaligned (Broadly consistent with “Not aligned”)
Engagement threshold target
ATLAS has a current portfolio constraint of 70% of companies being either “Currently Net Zero aligned” or “Aligned with Paris pathway” or under engagement.
By 2030 100% of ATLAS portfolio companies must be either “Currently Net Zero aligned”, “Aligned with Paris pathway” or under engagement.
GHG scopes included:
The assessment includes all Scope 1 & 2 emissions for each company as well as a broader estimate of Network/volume-based emissions associated with use or operation of the companies’ assets.
Net Zero Investment Framework
Science Based Target initiative for Financial Institutions
Emissions forecasts are compared to a 1.5°C scenario and the IEA’s Beyond 2 Degrees Scenario (B2DS), both used by the Science-Based Targets initiative (SBTi). The 1.5°C scenario was created by the SBTi from IPCC scenarios that limit warming to 1.5°C with a >50% probability. B2DS is considered aligned with a Well-Below 2 Degrees temperature goal and is consistent with limiting warming to 1.75°C with a 50% probability. For further information please see SBTi, “Foundations of Science-based Target Setting” (April 2019), link https://sciencebasedtargets.org/ resources/files/foundations-of-SBT-setting.pdf
By using sector specific pathways we can ensure that the heaviest emitting sectors are required to produce the greatest reductions.
Policy on coal and other fossil fuel investments:
No – as an infrastructure fund our universe does not include coal and oil production or refining.