Jupiter Fund Management plc, the specialist, high-conviction active asset manager, today announces its commitment to achieving net zero emissions by 2050 across its full range of investments and operations, reflecting the urgent need to limit global warming to less than 1.5°C in line with the Paris Agreement. As an asset manager with a long and proud heritage in sustainable investment, Jupiter recognises the need to be an active participant in achieving this transition by adding its strong voice to this era-defining challenge. The company will define a detailed roadmap including milestones and targets for achieving this ambition across its £55.7bn investment range, including interim targets for 2030, by the end of this year.
At the same time, Jupiter is aligning with the UN Global Compact (UNGC) on its strategy, purpose and principles. In line with the Compact, all our investment decision-making and engagement will be guided by the principles of the UNGC and all investee companies will be expected to abide by the Compact’s Ten Principles, committing to meeting fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption.
Jupiter is also pleased to become a member of the Good Work Coalition. Across its flagship UK equities business, the firm will encourage all investee companies to pay a living wage to their employees and will push for better working conditions and reduced workplace inequality, in partnership with ShareAction and other members of the Coalition. This move reflects Jupiter’s responsibilities as a UK company, its strong stewardship and governance framework and deep investment reach across its home market. To demonstrate this commitment, Jupiter will also accredit as a Living Wage Employer.
At its corporate level, Jupiter has already made significant progress in planning for achieving its net zero emissions target. As part of this plan, Jupiter announces its partnership with Forest Carbon, a not-for-profit scheme providing woodland carbon capture projects in the UK. By investing in woodland creation in the UK, the company is not only removing carbon emissions but also facilitating flood alleviation, habitat creation, employment, public access and cleaner air, benefiting wider society in line with its corporate purpose. In addition, over the course of the year, Jupiter will further enhance its disclosure on the total Scope 1,2 and 3 emissions produced by its operations and will set operational emissions targets consistent with its net zero objective.
Commenting on these developments, Andrew Formica, CEO, Jupiter, said:
“Today’s raft of announcement builds on Jupiter’s position as a long-standing supporter of sustainable and responsible investing. At Jupiter we believe that the future is better served by sustainable companies with strong environmental credentials, and it is imperative that we work together as a company, an industry, and a society to tackle climate change. I am pleased at the progress Jupiter is making towards this at both an investment and company level.
“As a high conviction, active manager of our clients’ money, we have a responsibility and an opportunity to do all we can to effect change by engaging and influencing the companies we invest in to adopt more sustainable businesses. The transition to net zero carbon emissions is imperative but improving wider societal and governance standards is also crucial. Along with net zero commitments, initiatives that align with the wider sustainability agenda, such as the UNGC principles and Good Work Coalition, will result in long term gains for all stakeholders.”
Last month, Jupiter announced a number of senior appointments within its sustainability suite, reinforcing its commitment to this strategically important client proposition which offers clients a range of differentiated investment options with a shared goal of generating attractive returns through long-term sustainable investing. For more information on these changes, please click here.
Jupiter is a specialist, high conviction, active asset manager committed to making a positive difference for our clients by helping them achieve their long-term investment objectives. From our origins in 1985, Jupiter now offers a range of actively managed strategies available to UK and international clients including equities, fixed income, multi-asset and alternatives. Jupiter is a constituent member of the FTSE 250 Index, and has assets under management of £55.7bn /$71.9bn /€61.4bn as at 30/09/2020.
Independence of thought and individual accountability define us. Our fund managers follow their convictions and seek those investment opportunities that they believe will ensure the best outcome for our clients. They do this through fundamental analysis and research, a clear investment process and risk management framework, with a focus on good stewardship.
We believe that asset managers have a critical leadership role to play in helping to resolve some of the greatest challenges facing the world. In this spirit, we are proud of our long-established credentials in the fields of ESG and sustainable investment, and of our ongoing commitment to specialism and innovation in these areas. Jupiter is a constituent member of the FTSE4Good Index, and a signatory on a number of key initiatives such as the UN Principles for Responsible Investment.
Jupiter’s values and responsible business practices are aligned with the principles of the UN Global Compact and the 2020 UK Stewardship Code. Having engaged with the Financial Reporting Council (FRC) on the implementation of the 2020 UK Stewardship Code, we support this reinvigorated framework and have undertaken further investor outreach with the FRC and the Investment Association (IA). We are proud of the A+ score for strategy and governance we obtained in the latest assessment of our activities under the Principles for Responsible Investment (PRI). We also maintained our ‘A’ status under the PRI principles for our equities strategies and improved our ranking to an ‘A’ in fixed income. We are a member of the Investor Forum (IF), the UK body which helps facilitate collective engagement with companies, with Jupiter’s Edward Bonham Carter on
the Board of Directors. Jupiter Chief Executive Andrew Formica is a Board member of the IA and a member of the UK Government’s Asset Management Taskforce, which represents the interests of our industry in key decision-making forums.
The information contained in this press release is intended solely for members of the media and should not be relied upon by private investors or any other persons to make financial decisions.
This communication, including any data and views in it, is not a financial promotion as defined in MiFID II. It does not constitute an invitation to invest or investment advice in any way. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.
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The views expressed are those of the Fund Manager at the time of writing, are not necessarily those of Jupiter as a whole and may be subject to change. This is particularly true during periods of rapidly changing market circumstances.
Issued in the UK by Jupiter Asset Management Limited, registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ is authorised and regulated by the Financial Conduct Authority. Issued in the EU by Jupiter Asset Management International S.A. (JAMI, the Management Company), registered address: 5, Rue Heienhaff, Senningerberg L-1736, Luxembourg which is authorised and regulated by the Commission de Surveillance du Secteur Financier.