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Evenlode Investment

Evenlode Investment Management is an employee-owned, Oxfordshire based investment company, with a sole focus on investing in the shares of high-quality companies over the long term, whilst creating a positive social impact on behalf of both individual and institutional clients. Evenlode joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.

Initial Target Disclosure: November 2022

Percentage of assets covered by the Net Zero Asset Managers Commitment Statement

100% of total AUM (USD $6.2 billion)

Information on interim target(s) covering the proportion of assets to be managed in line with net zero



Portfolio coverage baseline

24.4% of AUM in material sectors are aligning (14.5%), aligned (9.8%) or achieving net zero (0.0%).


Portfolio decarbonisation reference baseline

5.27 tCO2e/$m invested for financed scope 1 & 2 emissions, 163.14 tCO2e/$m invested for financed scope 3 emissions, and 168.41 tCO2e/$m invested for total financed emissions.


Engagement threshold baseline

2.6% of financed emissions across scopes 1, 2 and 3 in material sectors are aligned and 0.0% are achieving net zero.

We engaged with 0% of financed emissions that are not net zero or aligned on the topic of net zero alignment specifically at the baseline date.



Portfolio coverage target

50% of AUM in material sectors to be considered net zero, aligned, or aligning by 2025, and 100% by 2030. These targets serve as milestones towards our 2040 target of 100% of AUM in material sectors to be considered net zero or aligned.


Portfolio decarbonisation reference target

-51.6% for scope 1, 2 and 3, or 2.55 tCO2e/$m invested for scope 1 and 2, and 78.96 tCO2e/$m invested for scope 3.


Engagement threshold target

In our portfolio coverage target, we are aiming for 50% of AUM in material sectors to be at least aligning by 2025, and 100% by 2030.

We are aiming for 100% of AUM in material sectors to be considered net zero or aligned by 2040. 2022 is too short for us to set a target for the proportion of financed emissions to be net zero or aligned.

100% of financed emissions in material sectors to be aligned, achieving net zero or subject to direct or collective engagement and stewardship actions by the end of 2022.

GHG scopes included:

100% of financed scope 1, 2 and 3 (upstream and downstream) emissions are covered.


Net Zero Investment Framework


Since our funds invest in companies across industries and geographies but are not invested in sectors for which emission pathways have been developed, we used the SBTi cross-sector pathway. The SBTi’s cross-sector pathway requires emission reductions by 42% by 2030 and by 90% by 2050 from 2020 levels, to achieve at least a 50% likelihood of limiting warming to 1.5C with 20-40GT cumulative CO2 removal by 2050. However, given that we are expecting AUM to increase in the coming years, we have chosen an emission intensity target rather than an absolute target for our financed emissions and are thus targeting a larger reduction by 2030 of 7% per annum in line with guidance by the SBTi Net Zero Standard.

Additional information

Policy on coal and other fossil fuel investments:

Yes. We do not have a formal exclusions list as our investment process already precludes investing in sectors which are capital intensive and are often excluded from ESG portfolios, including coal and other fossil fuels. This covers 100% of AUM.

Further information:

Our Net Zero Engagement & Voting Policy outlines the stewardship actions we will take to achieve our engagement and decarbonisation targets, including direct and collective engagement with portfolio companies, policy engagement, and active
voting. The policy clearly sets out our engagement objectives and the escalation steps we will take should these objectives not be met within the set timeframe.