The Rock Creek Group, LP
RockCreek is a global investment firm that applies innovation to our decision making to help shape a more sustainable tomorrow.RockCreek joined the Net Zero Asset Managers Initiative in july 2021 and made its Initial Target Disclosure in November 2022.
23% of total AUM
initially committed to be managed in line with net zero
USD $3.91 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):
Portfolio coverage baseline
15% of AUM in public equities is considered net zero, aligned or aligning.
Portfolio decarbonisation reference baseline
The carbon footprint using market capitalization of our public market assets was 230 tCO2e / $m inv
Target(s):
Portfolio coverage target
50% of AUM in public equities reduction for Scope 1 and Scope 2.
Portfolio decarbonisation reference target
(portfolio emissions in intensity terms) –50% or 115tCO2e/$m inv
GHG scopes included:
We include Scope 1 and 2 but exclude Scope 3 since it difficult to obtain data pertaining to this Scope and this data is not standardized. We plan to include Scope 3 data as the quality of this data improves.
Methodology:
Net Zero Investment Framework
Scenario(s):
IPCC special report on global warming of 1.5°C, IEA Net Zero 2050. We intend to align our holdings as soon as practical.
Additional information
Proportion of AUM committed:
The percentage of AUM was calculated using half of the AUM allocated to external managers’ memberships and commitments to climate and NetZero initiatives, such as CDP, NetZero, PRI, and Climate 100. We believe this estimate is an appropriate proxy for the managers we believe will commit to management in line with net zero. RockCreek seeks to engage these managers to publish disclosures targeting net zero, and will seek to engage additional managers to whom we allocate capital to publicly commit to net zero. We will seek to revisit this proportion based upon further refinements to the existing methodologies and availability of further data with regard to certain investments and co-investments. We intend to increase our committed AUM over time.
Policy on coal and other fossil fuel investments:
We generally do not, and actively seek to avoid investments in coal. We are working on formalizing a policy on exclusion of coal investments. We also believe that in addition to exclusionary policies on coal and fossil fuel investments, investments in climate solutions can provide an alternative approach.