Legal & General has pledged to halve the carbon intensity of its entire £95bn proprietary investment portfolio by the end of the decade and link its climate targets to boardroom bonuses, as the pensions, insurance, property, and asset management giant released its climate progress report yesterday.
The FTSE 100 group is targeting a net zero portfolio of both managed and owned assets by 2050, and previously announced a goal in December to halve the portfolio of its £85bn retirement asset portfolio between 2020 and 2030, with an interim target for an 18.5% reduction by 2025. But this week it confirmed plans to expand the 2030 goal its cover its entire £95bn proprietary owned investment portfolio, backed by the adoption of science-based targets aligned with a 1.5oC global warming trajectory and efforts to continue to expand its £1.4bn of renewable energy investments. The move...
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