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Metrics Credit Partners

Metrics is an alternative asset manager with significant expertise in fixed income, private credit, equity and capital markets. Metrics joined the Net Zero Asset Managers Initiative in November 2021 and made its Initial Target Disclosure in November 2022.

Initial Target Disclosure: November 2022

97.5% of total AUM

initially committed to be managed in line with net zero

USD $6.6 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):

2021

3.2 degrees celsius

Target(s):

2027

Metrics commits to align its Scope 1 + 2 portfolio temperature score within the asset classes corporate loan, private equity and project finance from 3.2°C in 2021 to 2.3°C by 2027. Metrics commits to align its Scope 1 + 2 + 3 portfolio temperature score within the asset classes corporate loan, private equity and project finance from 3.2°C in 2021 to 2.5°C by 2027.

GHG scopes included:

Emissions Scope: We have calculated the emissions associated with 93% of our total debt and equity investments Target Scope: 97.5% coverage of portfolio by $ – Metrics’ portfolio temperature rating target covers Scope 1,2 and 3 emissions.

Methodology:

Science Based Target initiative for Financial Institutions

Scenario(s):

Following the ‘Financial Sector Science-Based Targets Guidance v1.1’ provided by the SBTi which is aligned to meet the goals of the Paris Agreement – to limit global warming to well-below 2 degrees above preindustrial levels and pursue efforts to limit warming to 1.5 degrees. Metrics has chosen a 1.5 degrees ambition for their operational Scope 1 and 2 targets as well as their Portfolio Temperature Rating target for Scope 1 and 2. Note that the Portfolio Temperature Rating target for Scope 1 and 2 (1.5 degrees) goes beyond SBTi’s minimum requirement (1.75 degrees). The Portfolio Temperature Rating target for Scope 1, 2 and 3 is aligned with a 2 degrees ambition.

Additional information

Proportion of AUM committed:

Exclusions in aggregate amounting to 2.5% of our total debt and equity investments relate to SBTi Asset Class “Other Project Finance (eg infrastructure),” other than:
• development of land for real estate
• real estate construction
(each of which is included on a voluntary basis)

Policy on coal and other fossil fuel investments:

Our Policy: We will not invest in the development of new oil and gas fields or entities that operate in the coal industry or the tar sands industry.

We will:
• phase out by 2030 financial support to companies with greater than 5 percent of revenues from thermal coal mining, exploration and drilling, mining services, processing, trading, transport and logistics, equipment manufacturing, operations and maintenance (O&M) services, engineering, procurement and construction (EPC) services, transmission and distribution of coal-fired electricity, coal to liquids (Ctlg) and coal to gas (CtG).
• not provide financial or other support (including project finance) to new or expanded coal-fired power plants.
• not provide finance to new borrowers who derive more than 5% revenue from activities listed above and related to building new infrastructure or investing in new or additional thermal coal expansion, mining, production, utilisation (i.e., combustion), retrofitting, or acquiring of coal assets.
• from 2025, require Paris-aligned transition plans at the time of any extension or refinancing for existing borrowers deriving more than 5% revenue from the activities listed above.

Further information:

Our climate commitments are on our website and in our Responsible Investment and ESG Policy. Our policy complies with SBTi’s guidance for financial institutions and applies to all of our assets under management. We have sought advice from SBTi on SDA Targets for electricity generating assets.