Reference to adherence to responsible business conduct codes and internationally recognised standards for due diligence and reporting
EAM is actively striving to reduce its carbon footprint in all areas. To this end, the Scope 1, Scope 2, and Scope 3 emissions are measured in accordance with the Greenhouse Gas Protocol. The determined carbon emissions are then not only offset according to the pertinent international standards, but emission reduction goals are also defined and pursued (replacing business trips with video conferences, switch to commuting by public transport, reduced paper use, etc.).
EAM’s alignment with the Paris climate goals
EAM is a member of Climate Action 100+. Climate Action 100+ is an investor coalition that was launched in 2017 and that is to run for a period of five years.
The goal is to motivate the 100 largest global greenhouse gas emitters to reduce their emissions, to financially measure climate risks in their balance sheets, and to bring their business strategies in line with the goals of the Paris Agreement.
The 100 addressed companies together are responsible for around two thirds of worldwide greenhouse gas emissions. Under Climate Action 100+, Erste Asset Management has assumed primary responsibility for the joint engagement with OMV AG.
EAM decided to participate in PACTA 2020 in May of 2020. PACTA stands for Paris Agreement Capital Transition Assessment and is a model that was developed by the independent non-profit think tank 2° Investing Initiative to evaluate the climate-friendliness of financial portfolios. The objective is to measure how portfolios align with the Paris climate goals.
In 2016, EAM became the first Austrian asset manager to sign the PRI Montreal Pledge. This obligates EAM to measure and publish the carbon footprint of all of its sustainable equity and bond funds.