RAM Active Investments SA
Founded in 2007, RAM Active Investments, an affiliate of Mediobanca Group since March 2018, operates independently worldwide with 30+ employees and four offices in Geneva (headquarter), Zurich, Luxembourg and Milan. RAM 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
68% of total AUM (USD $1.45 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio decarbonisation reference baseline
266 tCO2e/ $mn invested
Portfolio decarbonisation reference target
-33% by 2025 and -50% by 2030
GHG scopes included:
At the moment we are including Scope 1 and Scope 2 emissions in our commitment. Data availability and quality for scope 3 emissions being low for the moment, we have chosen not to include them. However, we are calculating and monitoring scope 3 carbon emissions for our portfolios.
Net Zero Investment Framework
7% emission reduction year-on-year derived from the P2 model in the IPCC special report on global warming of 1.5°C
Proportion of AUM committed:
We have taken a portfolio coverage approach meaning that AUM is committed to being managed in line with the Net-Zero pathway is a total of portfolios and not of an asset class. The portfolios mainly hold listed equities. Presently, we are exploring ways to assess and reduce the carbon emissions of other asset classes such as derivatives, fixed-income and fund-of-funds. We’re constantly researching ways to quantify, monitor and ultimately reduce carbon emissions of our portfolios. For example, we’ve developed a methodology based on world bank data to quantify and monitor the carbon emissions of sovereign bonds. As these approaches mature, we would be able to expand AUM coverage.
Policy on coal and other fossil fuel investments:
Yes. At RAM AI, we apply revenue thresholds based on economic activity specifically to fossil fuels such as thermal coal (20%), and oil and shale gas (20%). We also have restrictions on arctic drilling (20%) and ultra-deep-sea drilling (20%). These restrictions apply to listed equity in all our funds. Our systematic equity long-only fund range has even stricter thresholds. The latest policy can be found here.