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Kempen reveals new climate change policy and net zero target

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Kempen Capital Management (Kempen) has announced a new climate change policy, detailing a timeframe for objectives over the short, medium and long term, and enabling the firm to become a net-zero investor by 2050.Short term objectives include increasing investment in green bonds, a sharper focus on active management of climate commitments, and widening exclusions to cover coal and tar sands. 

 
The new objectives of Kempen’s climate change policy, are –

Objective 2025: Align with a path to achieving the Paris Agreement and Dutch Climate Agreement (Klimaatakkoord) goals for all listed investments. For sustainable and impact investments, Kempen will seek alignment with the EU Benchmarks or equivalent.
 
Objective 2030: Align with a path to achieving the Paris Agreement and Dutch Climate Agreement (Klimaatakkoord) goals for all listed and non-listed investments. 
 
Objective 2050: Align with the Paris Agreement goals and contributing to the transition to a low carbon economy. Kempen commits to have net zero emission investments by 2050.
 
Short term objectives (by 2025) –
 
2022: Coal and tar sands exclusions Kempen will apply exclusions relating to coal and tar sands across all of its investment strategies, to be achieved by 2022. Kempen will no longer invest in pure coal players which obtain the majority of revenues from coal mining, or those which obtain the majority of revenues from tar sands. Within its sustainable and impact funds, Kempen will not invest in companies which obtain any of their revenues from coal or tar sands.
 
Funds that Kempen invests in will now be asked for a clear climate engagement approach, aligned with their overall climate objectives, and will be required to demonstrate annual progress. The expectation is that overtime more active funds will adopt net zero targets. 
 
Kempen intends to increase its investments in green bonds and has added a 2025 timeframe to its green bonds policy. The policy has been extended to include sustainability-linked bonds, transition bonds and SDG-linked bonds.
 
Lars Dijkstra, Chief Investment Officer at Kempen Capital Management, commented: “As a long-term investor, we believe climate change represents a systemic risk facing the economy, society and environment, and we want to consider the risks and opportunities this presents to our clients investments in the coming decades.”
 
Narina Mnatsakanian, Director Sustainable & Impact Investment at Kempen, says: “Investors have a critical role to play in both facilitating the transition to a low-carbon economy and managing the climate risks of their investee companies. Kempen has a longstanding commitment to addressing climate change through active management, and our new policies with net zero target provides a clear framework to enable us to do so.”
 

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