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Veritas Asset Management LLP

Veritas is an independently managed investment company based in London. Veritas joined the Net Zero Asset Managers Initiative in November 2021. They published their Initial Target Disclosure on 9th November 2022.

Inital Target Disclosure: November 2022

Percentage of assets covered by the Net Zero Asset Managers Commitment Statement

91% of total AUM (USD $23.5 billion)

Information on interim target(s) covering the proportion of assets to be managed in line with net zero



2.76 (Scopes 1+2) and 2.93°C (Scopes 1+2+3)



Our interim targets for 2030 are as follows for 2.37°C (Scopes 1+2) and 2.48°C (Scopes 1+2+3).

GHG scopes included:

Coverage is 100% across all three scopes.


Science Based Target initiative for Financial Institutions


Temperature pathway aligned with 1.5°C

Additional information

Proportion of AUM committed:

The % of AUM managed in line with Net Zero excludes cash and assets invested in money market funds. The % will fluctuate over time depending on the amount of cash held. The aim is to manage 100% of invested assets in line with Net Zero.

Policy on coal and other fossil fuel investments:

No. Due to sustainability factors, the Universe List does not include any companies involved with the production of Oil, Coal, most Utilities, Steel, Cement, Agriculture etc. We do not avoid these companies simply because of the carbon footprint but because there is little visibility of the long-term sustainability – for example, demand or cash generation. In short, they do not qualify as quality companies as we define quality.

Further information:

For further information, please refer to the Sustainability webpage of the VAM LLP website.