Victory Hill Capital Partners LLP
Victory Hill is based in London and was founded in May 2020 by an experienced team of energy financiers, that have spun-out of a large established global project finance banking group. Victory Hill joined the Net Zero Asset Managers Initiative in June 2022 and made its Initial Target Disclosure in July 2023.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $0.553 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Sectoral Decarbonisation Approach:
0.0710229 tonnes CO2e / MWhP
Target(s):
Sectoral Decarbonisation Approach:
0.0260654 tonnes CO2e / MWh
GHG scopes included:
All scope 1 and 2 emissions for AUM are included and the following scope 3:
Cat3: Fuel and energy-related activities not in scope 1 and 2.
Specifically, this includes:
– Well-to-Tank extraction, processing and transport of fuels required for the generation of electricity at power stations;
– Transport and Distribution of electricity in country-specific national grids;
– Well-to-Tank extraction, processing and transport of combustible fossil fuels;
– Transport-related combustion of fossil fuels associated with the assets’ operation and maintenance;
Cat 4: Upstream transportation and distribution
Cat 5: Waste generated water use
Use of herbicide products for vegetation management on solar farms.
Methodology:
Science Based Target initiative for Financial Institutions
Scenario(s):
The underlying science-based net zero pathway from which our targets are derived is the Sectoral Decarbonisation approach methodology, largely based on ‘Power’ sector for the majority of our assets. This requires a 65% reduction within a maximum 10-year time frame of Scope 1 and 2 emissions as our near-term target. We have included Scope 3 emissions within this target as well. The long-term target will see emissions reduced by 95% with residual emissions offset. (Long term target will be for 95% reduction of total emissions which will equate to 0.0035511 tonnes CO2e / MWh.
Additional information
Policy on coal and other fossil fuel investments:
The Firm has an exclusion policy on fossil fuel extraction. The Firm is a specialist investment firm targeting direct investments in global energy infrastructure and investee companies that support the SDGs, with the aim of facilitating an orderly energy transition to a net zero carbon future. The strategy, therefore, focuses on transitioning away from carbon-intensive energy generation. Natural gas investment is viewed as part of the transition. The Firm will only invest in gas-powered electricity
generation if it also includes abatement such as carbon capture.
Further information:
Please see the GSEO fund website to see how we are investing to drive the energy transition.