Rothesay has seen a 13% overall reduction of Carbon Intensity (CI) in its total £47bn investment portfolio since 2020, its annual ESG reports have revealed.
The CI of its total investment portfolio fell to 183 from its 2020 baseline of 211, a 13% decrease overall which leaves the business well-positioned to proceed towards its long-term goal of net-zero by 2050.
The scope of the group’s monitoring also improved with the portfolio’s CI coverage increasing to 93%, up from 90% the prior year. Within the corporate bond investment portfolio there has been a 26% CI reduction, and the business has therefore introduced a further target to reduce the CI of that portfolio by 50% (from the 2020 baseline) by 2030.
Tom Pearce, CEO of Rothesay, said: “At Rothesay, we see embedding sustainability principles across our business as a fundamental part of our commitment to providing our policyholders with security for the future. We are proud of the progress we have made this year and of the transparency in which we communicate our goals and the programmes of activity designed to deliver them. As always, though, we recognise that more can be done and we remain committed to continuous improvement to develop and deepen positive change both within our business and the wider insurance sector.”