Uni of Manchester reveals portfolio’s carbon intensity down by 55%
The University of Manchester has published a report into the climate impact of its endowment investments which shows that, by 31 July 2022, the carbon intensity of its endowment equity investment portfolio has been reduced by 55%, compared to 2019.
"The University has therefore hit its target of reducing the weighted average carbon intensity (WACI) by 50% by 2027 ahead of time," according to the report.
The University said it also ended investment in fossil fuel companies in 2021, as part of its responsible investment policy. The institution stressed it aims to reach net zero carbon in its investments by 2038 at the latest.
The Endowment Investment Portfolio Climate Change report for the year ended 31 July 2022 was with support from Mercer, the University’s investment adviser.
"This work, and our efforts to decarbonise our campus operations, helps us make a contribution to tackling the climate crisis, alongside our important teaching, research and social responsibility activity," said Professor Nalin Thakkar, Vice-President for Social Responsibilit.
"Asset owners like the University sit at the top of the investment chain and, therefore, have an important role to play in influencing the organisations through which they invest, such as asset managers, and companies in which they ultimately invest to provide better climate-related financial disclosures," Thakkar added.
“This work, and our efforts to decarbonise our campus operations, helps us make a contribution to tackling the climate crisis, alongside our important teaching, research and social responsibility activity.”