Veritas Asset Management LLP

Climate Impact & Sustainability Data (2022)

Netted off carbon emissions (based on 2019 levels) by funding a small hydropower project in India and a biomass cookstoves project in Malawi.
Introduced a questionnaire to third-party providers on their CSR efforts, focusing on modern slavery.

Worked with Sponsors for Educational Opportunity (SEO) to mentor young people from underrepresented backgrounds, increasing the pool of diversified talent in the financial industry.
Welcomed Arunma Oteh as the new Non-Executive Chairperson to the Board, strengthening expertise in sustainable investment.

Implemented a robust Conflicts of Interest Policy.
Enhanced ESG, Voting, and Engagement policies.
Introduced specific training for employees in the commercial team on ESG regulation and client reporting.

Long-term Goals:

Medium-term Goals:

Short-term Goals:

Enhance management rating to specifically cover E and S factors more directly (2023).

Inconsistency in Scope 3 emissions, Net Zero pledges without specific measurable goals, and the use of offsets.
Shortcomings of third-party ESG ratings.
Gaps in data collected by third-party providers, leading to inconsistent methodologies.
Slower response to disclosure requests from Asian companies.

Replaced Sustainalytics with MSCI for broader climate-related data and an alert system for the UN Global Norms policy.
Appointed the Carbon Trust to assist with calculating VAM LLP’s decarbonisation targets and implied temperature rating.
Developed a blended methodology to achieve the minimum 60% threshold of investments in companies that promote environmental and/or social characteristics.
Introduced thematic engagement initiatives focusing on SBTi and gender diversity.

Questionnaire sent to third-party providers on their CSR efforts, focusing on modern slavery.

Investment in companies benefiting from the transition to a low-carbon economy (e.g., Cognizant, Vinci, Reliance Industries).

Frameworks Used: SFDR, TCFD, SBTi, UNGC, UNGP, AMNT Red Lines