LifeSight Ireland, WTW Ireland’s defined contribution (DC) master trust pension solution, has set a net-zero greenhouse gas-emissions target across its default and lifecycle investment strategies by 2050 at the latest, with at least a 50% reduction by 2030.
Last summer the master trust announced it would commit to halving portfolio emissions by 2030.
LifeSight, which already embeds ESG into its default and lifecycle investment strategies, is also committing to net zero across all nine of its lifecycle strategies.
As part of its ongoing commitment to sustainable investing, LifeSight has also continued to develop a range of other enhancements on behalf of members; it recently launched the Climate Focus Equity Fund, following feedback from member surveys.
The Climate Focus Equity Fund will have a low carbon footprint, exclude fossil fuels and emphasise investment in companies with lower carbon footprints, those transitioning their emissions to be Paris-aligned and those providing solutions to climate and other environmental challenges.
It will also take a broader lens to environmental issues, such as waste, pollution, water use and biodiversity, in addition to emissions, it said.
LifeSight has also partnered with an engagement overlay provider to deliver additional stewardship services for the assets within LifeSight’s default and lifecycle strategies. This will include daily engagement on a variety of ESG issues such as climate change, human rights and responsible supply chains.
Maria Quinlan, head of LifeSight in Ireland, said, “Committing to net zero is a fundamental part of LifeSight’s sustainable investment policy. We have been at the forefront of sustainable investing for years and were the first master trust to start integrating sustainable investment considerations into all our defaults.”
She added: “Climate change must be taken seriously, and we want to be a part of the transition to a net-zero economy. Addressing climate change effectively requires collaboration across all industries.”
Joseph O’Dea, head of investment in Ireland for the €19bn master trust, said: “We have set ourselves ambitious goals, but our organisational commitment is clear, supported in no small part by WTW’s Climate and Resilience Hub which employs 90 climate experts.
“In addition to this commitment, our Climate Transition Analytics team has had great success with the launch of the Climate Transition Index (CTI) – a family of indices – in partnership with STOXX, an index provider.”