The Trustee Board of the Royal Mail Pension Plan (RMPP) commits to achieve net zero greenhouse gas emissions across its investment portfolio by 2050. This aligns with global efforts to limit warming to 1.5°C in the same timeframe.
This decision advances RMPP’s long standing approach of ensuring that climate risk is integrated into its investment strategy and risk management.
RMPP is also setting an interim target to reduce the carbon emissions associated with its equities and corporate bonds portfolios by 50% by 2030, relative to a 2015 baseline.
Joanna Matthews, Chair of the RMPP, commented: “The climate crisis requires urgent and decisive action. As a responsible and long-term investor, we are determined to follow a credible and robust pathway to net zero emissions by 2050. The meaningful net zero target we are setting is aligned with our primary duty to protect the pensions of our members while also accelerating portfolio decarbonisation.”
More details on RMPP’s climate journey and progress will be available in the upcoming dedicated report on its climate strategy, in line with the Task Force on Climate-Related Financial Disclosures (TCFD), later in the year.