This means delivering good outcomes for our customers, helping to deliver a net zero economy by 2050 and understanding and taking action to manage our impact and dependency on nature.
Net Zero Transition Plan
As a purpose-led organisation we believe that we have a responsibility to help address the climate emergency.
We want to deliver good outcomes for our customers whilst playing our part in delivering a net zero economy by 2050, and our actions are either directly or indirectly aligned with this goal. The primary drivers for our actions are to reduce customers’ exposure to climate-related risk and help them take advantage of the opportunities presented by the net zero transition.
Invest: Decarbonising our investments
We are decarbonising our investment portfolio, working with investees and asset managers to drive down emissions through the effective stewardship of our assets, and investing in the growing companies and sectors of the future.
Engage: Collaborating to drive change
We want to use our insight and knowledge to lead the debate on key climate-related challenges. This includes working with government, non-governmental organisations and across our industry and the economy to remove the barriers to net zero investment and define best practice; whilst engaging our customers and employees on the role they can play in delivering net zero.
Lead: In our operations and supplier base
We are decarbonising our operations and the supplier base. To achieve our goals we are investing in low carbon technologies across our offices, and prioritising working with suppliers who share Phoenix Group vision to achieve Net Zero by 2050.
We are committed to achieving net zero across our entire business
Nature is being rapidly degraded by human activity, through changes in land and ocean use, over-exploitation of natural resources, climate change, water and air pollution. We recognise that nature loss and degradation is a material financial risk to our customers and we are taking action to understand and address our dependency and impact on nature across the business. We have outlined our intentions and position in our Nature Statement.
Our climate ambition is to optimise value for our customers and play a key role in delivering a net zero economy by 2050 by: decarbonising our investments, operations and supplier base to manage risks; investing in the growing sectors of the future to take advantage of the opportunities; and being a leading voice in calling for action and driving system change.
As a large employer we have a responsibility to lead by example, reducing our negative impact on the environment and promoting positive action to address key environmental challenges.
We want to build a sustainable supplier base and develop partnerships based on responsible business practices and sourcing.
The way pensions are invested can have a positive impact on climate change while also managing risks and maximising opportunities for our customers.