Today, as part of a commitment to sustainable, responsible investment and its journey to net zero investment portfolios, Phoenix has written to its asset management partners to outline the steps it has been taking and set the future direction of travel and expectations of its partners.

As the largest long term savings and retirement business in the UK, Phoenix believes it has an important role to play when it comes to sustainable investment and driving forward developments that will prepare investment portfolios for a net zero world. 

Commenting, Mike Eakins, Chief Investment Officer at Phoenix Group said: 

“We believe it’s important for our customers, clients and their advisers for Phoenix to be at the forefront of the transition to net zero for investment portfolios, and we will be working closely with our investment partners and our wider community on this journey.

“At Phoenix we will be carbon neutral in our own operations by 2025 and are committed to decarbonising our investment portfolio and achieving net zero greenhouse gas emissions by 2050 or sooner. Importantly, we are not alone in setting targets and while there remain some unknowns, we are taking a thorough approach to ensure we do this well, in line with science based targets. We are actively engaging with decarbonisation alliances, initiatives and policy makers. At the same time, we are enhancing our internal capability by acquiring and developing tools to enable us to use best in class metrics for our portfolio analysis.

“While there is a great deal more to be done, we are making good progress and have already taken some important steps on our journey to net zero, these include signing up to key global initiatives including the UN PRI, Net Zero Asset Owners Alliance and Climate Action 100+ as well as committing to invest more than ever in the origination of sustainable assets.

“With all this in mind, and as an asset owner, rather than an asset manager, I’ve written to our investment partners to remind them of our commitments and our expectations as we continue to work with them towards our net zero targets.

“The world must move to net zero and it’s clear that real collaboration is needed across the financial sector if we are all to achieve the all-important net zero investment portfolio goal. We are working with best in class asset managers to drive forward this investment transition.”

You can read the full letter to Phoenix’s investment partners here.

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Enquiries

Dilesh Sangaran
PR Manager
Phoenix Group
07974 604 323 / 0203 735 0942
Dilesh.sangaran@thephoenixgroup.com