Meridiam is an independent investment Benefit Corporation under French law and an asset manager. The firm specializes in the development, financing, and long-term management of sustainable public infrastructure in three core sectors: sustainable mobility, critical public services and innovative low carbon solutions. Meridiam joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $18 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Scope 1 and 2 (tCO2e/year) per million USD invested by Meridiam. The 2019 Baseline Year Performance for the target metric is 43tCO2e/year/M€ invested).
50% reduction in scope 1 and 2 carbon emissions.
GHG scopes included:
Our current carbon emission reduction targets cover Scope 1 and 2 emissions measured at fund level and aggregated at Meridiam level to define our overall performance. Although we currently do not have specific targets covering Scope 3 emissions, our efforts are inherently directed towards reducing them, in addition to our primary focus in tackling Scope 1 and 2 emissions. We are presently working on integrating Scope 3 emissions reduction targets in our assets by setting clear expectations and strategically engage with various stakeholders, utilizing several levers and approaches at our disposal (CIARA and the detailed carbon footprint evaluation) that cover 100% of its assets Scope 1, 2 and 3 emissions.
IPCC scenarios used by CIARA methodology.
Policy on coal and other fossil fuel investments:
Yes. As defined in Meridiam’s list of excluded activities (going beyond coal and other fossil fuel investments): Meridiam will not knowingly finance, directly or indirectly, projects involving the extraction, processing or production of coal, oil and other fossil fuels nor assets using coal as the main energy source. Meridiam will also not invest in projects that are mainly dedicated to transporting coal or other fossil fuels.
Meridiam provides steadfast advocacy to the emission reduction efforts namely by offering consultancy in matters of regulation and standards, notably in the advancement of ESG standards, taking part in several initiatives (PRI investors guide for ESG risk management in the supply chain, UN Global Compact’s ESG-related studies, active participations to the WEF, CCFLA, IPFA, etc). We are also engaged in promoting sustainable finance associations and R&D of class methodologies such as CIARA, alongside trainings in sustainability (e.g. Harvard’s Business School on sustainable infrastructure using Meridiam’s case studies), while always ensuring compliance with our lobbying policy .