Bearing Asset Management Declares Global Operation Carbon Neutrality by 2030

[Asia Economy Reporter Minji Lee] Global asset management firm Baring Asset Management announced on the 15th that it aims to achieve “complete carbon neutrality (net zero)” for carbon emissions generated within the group by 2030.

Baring Asset Management unveiled a detailed roadmap containing phased key strategies to enhance long-term sustainability. Starting in the second half of this year, it plans to introduce a greenhouse gas emission reduction program and continuously reduce emissions thereafter.

Mike Preno, Chairman and CEO of Baring Asset Management, stated, “Creating a sustainable future for our clients, colleagues, and communities is our core mission, and this will also contribute to Baring’s long-term growth and profitability.”

Baring Asset Management has been making company-wide efforts over several years to achieve environmental and social goals. With this announcement, the Baring Global Group takes its first step toward achieving complete carbon neutrality by 2030. Sarah Monday, Director of Sustainability at Baring, said, “While carbon offset efforts will be necessary to achieve carbon neutrality by 2030, the most important thing is to drive change in the daily lives of employees and partners.” She added, “By the third quarter of this year, we plan to internally impose a carbon levy on air travel and expand this to other areas in the future.”

Director Monday emphasized that one of Baring’s core values is “transparency,” and said they will gradually reduce greenhouse gas emissions while transparently disclosing related figures. As of 2019, the greenhouse gas emissions per employee at Baring Asset Management were 10.83 tons, totaling 21,688 tons for the entire group. They also announced plans to operate all facilities managed by Baring using renewable energy. The goal is to achieve a 100% reduction in Scope 1 and Scope 2 emissions by 2022.

The progress of greenhouse gas reduction will be disclosed through an annual report that complies with international sustainability reporting standards. Baring Asset Management’s carbon neutrality goal was developed jointly with its parent company, MassMutual. MassMutual declared carbon neutrality earlier this year, following Article 4, Paragraph 9 of the Paris Agreement. MassMutual aims for “net zero by 2030” and “GIA net zero by 2050,” and Baring Asset Management fully supports these goals.

Meanwhile, Baring Asset Management signed the UN Principles for Responsible Investment (PRI) in 2014 and joined Climate Action 100+ in 2019. It has also participated in the Task Force on Climate-related Financial Disclosures (TCFD) declaration of support and is a member of the UN Global Compact.

This content was produced with the assistance of AI translation services.