WTW
Willis Towers Watson is an Irish-incorporated insurance advisor company. WTW joined the Net Zero Asset Managers in July 2021 and made its Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $186.6 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio decarbonisation reference baseline
63 tCO2e/$m invested
Allocation to climate solutions baseline
4.8% of portfolio allocated to climate solutions.
Target(s):
Portfolio decarbonisation reference target
-50% by 2030, net zero by 2050
Allocation to climate solutions target
Allocation to climate solutions more than doubled by 2030.
GHG scopes included:
Scope 1 and 2 emissions currently included but Scope 3 excluded due to limitations on data availability and lack of a commonly agreed approach to incorporation and disclosure. We will look to include Scope 3 emissions in our reporting and targets when data coverage and quality improve sufficiently.
Methodology:
Net Zero Investment Framework
Scenario(s):
IPCC Special Report on 1.5°C, with a focus on P1/P2/P3 pathways with limited/no overshoot and limited reliance on negative emissions technologies to derive emissions target.
Additional information
Policy on coal and other fossil fuel investments:
Yes. We have an exclusion policy in place in respect of companies that derive:
• Over 25% of their revenue from thermal coal mining or sale to third parties
• Over 50% of their revenue from coal power generation
• Over 25% of their revenue from tar sands extraction
Where we are invested via pooled / comingled funds managed by third party managers, we engage and look to influence their policies over time to at least match our position in respect of thermal coal and tar sands.
Further information:
Our net zero pledge
Our annual report
Our UK Stewardship Code report