Aligning with a More Sustainable Future

Aligning with a More Sustainable Future

Story from UBS.

We selected Chubu for engagement based on our proprietary methodology which measures how companies are transitioning to a low-carbon economy within a below 2°C scenario. Our dialogue with management started in 2019 and focused on conducting a scenario analysis, reviewing GHG emissions targets, increasing exposure to renewables, linking executive pay to climate metrics and aligning disclosure with the TCFD recommendations.

In part due to our engagement, the company has started disclosing according to the TCFD framework. It now conducts scenario analysis linked to a 2°C scenario. It has also committed to an additional 5GW of renewables by 2025, higher carbon intensity reductions than the industry average in the country, and net zero emissions by 2050. Going forward, we are looking for new commitments on renewables and a more ambitious coal phase-out plan, currently only focusing on low efficiency plants (3.3% of total). Additionally, the company is still in the process of defining new 2030 climate reduction targets.

Note that all fund impact stories are sourced from the fund manager and have not been independently verified by Ethos. You can view the source of this story here.

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