Valo Ventures
Valo Ventures is a venture capital firm headquartered in Palo Alto, California investing in North America and Europe. It joined the Net Zero Asset Managers Initiative on 20 April 2021 and its initial target disclosure was published on 1 May 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $0.2 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio coverage baseline
Because we have not been able to establish a 2022 baseline, our target performance will be measured from our 2023 quantitative benchmark.
Target(s):
Portfolio coverage target
By 2030 at least 50% of our AUM invested in Series C or later companies (the benchmark we use to initiate carbon accounting) will have achieved net zero or be demonstrating alignment through their ambition, targets, emission performance, disclosure, strategy, and capital allocation.
Reduce financed emissions by 50% by 2030, compared to our first quantitative benchmark.
Portfolio coverage target
By 2040 at least 100% of our AUM invested in Series C or later companies (the benchmark we use to initiate carbon accounting) will have achieved net zero or be demonstrating alignment through their ambition, targets, emission performance, disclosure, strategy, and capital allocation.
GHG scopes included:
Due to the early nature of the start-ups Valo invests in, most of our assets are deployed towards companies with de minimis Scope 1 & 2 emissions.
Four of our portfolio companies have surpassed the Series C benchmark, and we are working with them to implement an annual reporting practice. Reporting will, at a minimum, include process, transportation and other emissions from companyowned assets for Scope 1 and electricity use and purchased heat emissions for Scope 2.
As we begin to track Scope 3 emissions for qualified companies, it is important to note that approximately half of Valo’s portfolio will be companies offering products or services that have a significantly lower carbon footprint than existing solutions.
Methodology:
Net Zero Investment Framework
Scenario(s):
The IPCC 1.5°C Pathways and the resulting emissions gap highlighted in the UNEP Gap Report
Additional information
Proportion of AUM committed:
100%
Policy on coal and other fossil fuel investments:
Yes