Quoniam Asset Management GmbH
Quoniam is a leading quantitative asset manager with more than 130 employees in Frankfurt and London. Quonium joined the Net Zero Asset Managers Initaitive in October 2021 and madeits Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
56% of total AUM (USD $12.2 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio decarbonisation reference baseline
Portfolio emissions in absolute terms:
Portfolio emissions in intensity terms:
282.5 tCO2/$mn revenue
Portfolio decarbonisation reference target
-50% portfolio emissions in intensity and absolute terms.
GHG scopes included:
Our targets cover Scope 1 & 2 emissions. For the base year (Dec 2018), Scope 1 & 2 emission data cover 95.6% of committed AuM, and for the latest period (Sep 2022) 97.6% of committed AuM are covered. We already monitor scope 3 for most of our AuM, however data quality for Scope 3 emissions is currently not reliable enough to be integrated in a systematic investment process. Many companies do not report Scope 3 emissions data, hence we are obliged to use estimates, which tend to have high dispersion, varying scope and minor quality. Going forward, we continue to include scope 3 emissions sufficiently in our targets and expect to achieve that as soon as data quality improves.
Net Zero Investment Framework
We derive our GHG intensity target from the IPCC recommendations on net zero pathways.
Proportion of AUM committed:
We only include net asset value of asset classes specified in 10, and also do not include derivatives (such as futures, swaps, ETFs, funds) in those asset classes. Multi asset mandates are not included. Non-discretionary mandates where Quoniam is not able to manage in line with Net Zero due to client instructions, benchmarks or similar restrictions are also excluded. Quoniam engages with clients to embed net zero alignment in such cases.
Policy on coal and other fossil fuel investments:
While we use science-based targets in our investment process and in the monitoring of the overall reference target, we currently have not defined a separate science-based policy for coal and other fossil fuel divestment. As many companies are currently undergoing a transition, we feel it is important to capture and appreciate their efforts in this respect. We continue to analyse the subject and may publish a fossil fuel policy.