KBI Global Investors
KBI Global Investors, the collective term for KBI Global Investors Ltd, and its wholly owned subsidiary, KBI Global Investors (North America) Ltd, is an institutional asset manager, headquarted in Dublin with a sales office in Boston. KBI joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.
100% of total AUM
initially committed to be managed in line with net zero
USD $16.3 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
Portfolio coverage baseline
14% of AUM in material sectors is considered net zero, aligned or aligning.
Portfolio decarbonisation reference baseline
189.9 tCO2e/ $mn invested
Engagement threshold baseline
14% of financed emissions in material sectors (defined by TCFD as carbon related sectors) are net zero or aligned.
28% of financed emissions in material sectors are subject to direct or collective engagement and stewardship actions.
Allocation to climate solutions baseline
6% of AUM allocated to climate solutions (as per EU Taxonomy climate mitigation)
50% of AUM in material sectors is considered net zero, aligned, or aligning by 2024; 75% by 2030.
Portfolio decarbonisation reference target
-32.6% or 128 tC02e/$m invested.
Engagement threshold target
40% of financed emissions in material sectors will be net zero or aligned actions by 2025; 50% by 2030.
30% of financed emissions in material sectors are subject to direct or collective engagement and stewardship actions by 2025; 40% by 2030.
Allocation to climate solutions target
15% of AUM allocation to climate solutions.
GHG scopes included:
We have focused on Scope 1 and 2 emissions in our investment process, as Scope 3 are not consistently/reliably reported by companies as yet. We do however report on Scope 3 data at an overall portfolio level. We use the services of MSCI ESG Research, and the publicly available Greenhouse Gas Protocol (GHGP) framework for Scope 3 emission accounting is used as the conceptual basis for their estimation modelling.
Net Zero Investment Framework
The United Nations Environmental Programme (UNEP) published an assessment in 2019 (the base year for this project) which calculated that the planet needed to reduce its emissions by 7.6% per annum over the period to 2030, in order to keep the rise in global temperatures to a trajectory that would achieve the 1.5C Paris Agreement target. See here. We believe that this figure of 7.6% was a reasonable proxy for the level of reduction that we should target for our portfolios.
Policy on coal and other fossil fuel investments:
Yes. As part of the Amundi group, we apply the house exclusions on 100% of our AUM. As per the Amundi Responsible Investment Policy, we exclude company revenues from coal extraction and coal based power and any company developing or planning to develop new thermal coal capacities as per the Thermal Coal Policy.