7IM has teamed up with partners across the wealth management industry to create the ‘UK Wealth Managers for Climate’ group calling for asset managers to commit to net zero.
The investment manager, along with eight other members including Cazenove Capital, EQ Investors, Paradigm Norton, Quilter Cheviot, Sarasin & Partners, Greenbank, LGT Wealth Management and Tribe Impact Capital, have signed a letter outlining three climate change ambitions.
These include setting a net zero commitment and ensuring that targets are clear and transparent; communicating the approach clearly to both the business and clients; and ensuring that stewardship activities reflect net zero commitments.
7IM said the goals reflect its own ambitions, such as a 30% reduction in the carbon intensity of its Strategic Asset Allocations by 2026. Since 2021, 7IM has also been a signatory to the UK Stewardship Code by the Financial Reporting Council, which sets standards for asset managers around accountability and responsible investing.
Jack Turner, head of ESG portfolio management at 7IM, said: “The industry has a responsibility to champion the best ethical and environmental standards for our customers and future generations. At 7IM, we are committed to making a positive impact, creating long term value for clients as well as sustainable benefits for society, the economy and the wider environment through our responsible management of capital.
“We are proud members of ‘UK Wealth Managers for Climate’ and by signing this letter, we hope to encourage more wealth management firms to commit to a more sustainable future and join us in delivering positive change.”
Main image: richard-r-schunemann-3QsFMZLm_KU-unsplash
