Maitri Asset Management
Maitri Asset Management is a B Corporation licensed fund manager and globally connected private investment firm headquartered in Singapore. It joined the Net Zero Asset Managers Initiative on 29 March 2021 and its initial target disclosure was published on 1 November 2021.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
50% of total AUM (USD $ billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio decarbonisation reference baseline
Emissions intensity as of 2019 of 50% of Maitri’s AUM: 41.7 tCO2e / mUSD (for Scope 1 & 2)
Target(s):
Portfolio decarbonisation reference target
Portfolio Level 1: To halve the emissions intensity of 50% of Maitri’s AUM.
Portfolio coverage target
Asset Class Level 1: As this target is dependent on companies setting targets in line with net zero frameworks, which are relatively new, we will evaluate the setting of this target at our next review. In the meantime, Maitri commits to meaningfully increasing the proportion of our AUM invested in companies in the material sectors, which are either achieving, ‘aligned’ to, or ‘aligning’ to net zero.
Engagement threshold target
Asset Class Level 2: Engaging at least 70% of financed emissions in the material sectors assessed to be net zero or aligned with a net zero pathway, either directly or through collective investor initiatives.
GHG scopes included:
Our targets coverage include Scope 1 & 2 portfolio emissions. We will evaluate the inclusion of Scope 3 at the next review.
Methodology:
Net Zero Investment Framework
Scenario(s):
The underlying pathway is the P2 emission pathway as outlined in the IPCC special report on global warming of 1.5°C.
Additional information
Proportion of AUM committed:
The current target accounts for the fact that Maitri is undergoing an expansion phase, which could lead to meaningful changes to our AUM and portfolio strategies. Furthermore, climate-related disclosures, frameworks, and data availability are still at a nascent stage and evolving quickly. We anticipate the climate data space to mature over the next few years, which will further enhance data quality and visibility to support our target-setting. Since 2020, Maitri has been tracking, and hence mindful, of the climate impacts of our sustainable portfolios.
Policy on coal and other fossil fuel investments:
Yes, this is documented in our Responsible Investment Approach.
Further information:
Target Setting: We commit to halving the emissions intensity of 50% of our AUM, and to step up our engagement with companies in the material sectors that are yet to align to net zero. These targets will be reviewed within the next 5 years. We will evaluate the setting of a target for investing in climate solutions at our next review.