Comgest
Comgest is an independent, global asset management group with headquarters in Paris and offices in Amsterdam, Boston, Brussels, Dublin, Düsseldorf, Hong Kong, London, Milan, Singapore, Sydney and Tokyo.
96% of total AUM
initially committed to be managed in line with net zero
USD $28.21 billion
currently committed to be managed in line with net zero
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio coverage baseline
35% of our listed equity AUM is considered i) achieving net zero, or ii) aligned to net zero, or iii) aligning to net zero in 2022.
Engagement threshold baseline
30% of financed emissions were subject to individual or collaborative engagement in 2022.
Target(s):
Portfolio coverage target
50% of our listed equity AUM is considered i) achieving net zero, or ii) aligned to net zero, or iii) aligning to net zero by 31.12.2027.
50% of our listed equity AUM in material sectors is considered i) achieving net zero or ii) aligned by 31.12.2030.
Engagement threshold target
70% of financed emissions are subject to individual or collaborative engagement by 2025 (if not already assessed as net zero or aligned).
GHG scopes included:
Our portfolio coverage target considers higher impact companies’ scope 1, 2 and material scope 3 emissions and other (lower impact) companies’ scope 1 & 2 emissions. We considered all emissions companies’ scope 1, 2 and 3 emissions (reported or estimated emissions) to assess our financial emissions and our engagement threshold.
Methodology:
Net Zero Investment Framework
Scenario(s):
Our portfolio coverage target and engagement threshold, derived from the NZIF methodology, have been designed to align with the IPCC special report on global warming of 1.5°C P1 scenario.
Additional information
Proportion of AUM committed:
Comgest is a listed equity investor and 100% of our listed equity AUM is in scope of our net zero targets. This commitment excludes cash and cash alternatives, derivatives used for hedging purposes as well as investments in funds as no methodologies have currently been developed to address these asset classes.
Our investment style leads us to have a low portfolio carbon footprint baseline and we believe focusing on a portfolio coverage target combined with an engagement threshold will help us focus our efforts on areas where we can make the biggest contribution. Nonetheless, we regularly track our progress on portfolio decarbonisation and allocation to climate solutions.
Policy on coal and other fossil fuel investments:
Our investment style leads us to have low or no exposure to the mining, fossil fuel and energy sectors. Additionally, our Coal Exit Policy, included in our Responsible Investment Policy, is a group-wide policy, which excludes:
• all companies operating thermal coal mines, applying a 0% revenue threshold.
• all companies involved in electricity production with an energy mix exposed to coal exceeding the following relative or absolute thresholds:
- utilities with electricity production or revenue based on coal equal to or exceeding 20%
- utilities with installed capacity based on coal equal to or exceeding 5 GW
• companies developing new coal-fired power plants.
The thresholds defined above will be progressively lowered to reach a coal phase-out by 2030 for Developed Markets and 2040 for Emerging Markets.