AMP has today announced the launch of its Climate Change Position and Action Plan with the goal of achieving net zero emissions by 2050. 

In the strategy, AMP reaffirms support for the Paris Agreement and recognises the importance of ongoing action, particularly through the strategic management of business operations and investments it manages on behalf of its clients, to reach the net zero emissions target by 2050. 

AMP has committed to five focus areas which will drive its actions and commitments on climate change, outlined in the Climate Action Plan: 

1. Providing clients with low carbon and green investment opportunities
2. Managing and disclosing the physical and transition risks of climate change in our investments 
3. Engaging with companies, assets, investor groups and advocating for an orderly transition to reach net zero emissions 
4. Reducing AMP’s operational impacts as a business
5. Supporting clients and communities impacted by climate change

AMP’s Climate Change Position and Action Plan builds on steps the company has already taken, including: 

• Maintaining carbon neutrality across global office operations since 2013 and setting a target to further reduce scope 1 and 2 emissions_[1] by 42 per cent by 2030, from a 2019 base year
• The launch of AMP’s Sustainable Managed Portfolio offering through our flagship MyNorth platform, providing advisers and clients with a new sustainable investment option  
• Through AMP Capital, engagement with assets, companies and policymakers on climate change through a range of investor collaborations and initiatives, including as co-founder of the Investor Group on Climate Change (IGCC) 
• Providing clients specialist support during recent natural disasters, including bushfires and floods  

Details about AMP’s climate-related performance are published in its recent 2020 Sustainability Report.

Chief Executive Francesco De Ferrari commented:

"I am pleased to announce the launch of our Climate Change Position and Action Plan which outlines how we will manage our business and the investments we make on behalf of our clients in alignment with net zero emissions by 2050, building on progress already made.”

Chair Debra Hazelton commented:

"Our action plan outlines clear steps to reduce emissions, provide low carbon and green investment opportunities for clients and maintains our commitment to remain carbon neutral across our operations.

“We look forward to proactively contributing to the global move towards a net zero world.”    

AMP’s Climate Change Position and Action Plan is available here.

_{[1] Scope 1 greenhouse gas emissions are the emissions from a direct result of activities at a facility level (e.g. natural gas or diesel). Scope 2 greenhouse gas emissions are the emissions from the consumption of electricity.}