Uniting Ethical Investors Limited
Climate Impact & Sustainability Data (2024-12)
Reporting Period: 2024-12
Environmental Metrics
Total Carbon Emissions:118.5 tCO2e per $ million invested (portfolio)
ESG Focus Areas
- Climate risk management
- Human rights
- Modern slavery risk
- SDG alignment
Environmental Achievements
- Reduced carbon footprint of portfolio (specific numbers not provided, but comparison to ASX300 is shown)
Social Achievements
- Collaborative engagement with other investors on financed and facilitated emissions for the Australian banking sector
- Met with Fortescue Metals to discuss modernising partnership agreements with First Nations groups
Governance Achievements
- Voted in support of shareholder resolutions at Westpac, NAB and ANZ AGMs calling for further disclosure on transition plan assessments of oil and gas company clients
Climate Goals & Targets
Environmental Challenges
- Underperformance driven by stock selection within the Materials sector and a below-market weight to the Commonwealth Bank
- Uncertainty over the impact of a second Trump presidency
- Valuation metrics for Australia’s banking stocks have become more elevated
- Questions raised on China’s growth outlook and policy stimulus and the subsequent impact on commodity prices
Mitigation Strategies
- Portfolio re-established a position in Pilbara Minerals and established a position in DigiCo Infrastructure REIT
- Reduced position in NAB and added exposure to insurer QBE
- Increased holdings in HMC Capital and Cochlear
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: MSCI ESG Ratings
Certifications: B Corporation
Awards & Recognition
- Responsible Investment Leader 2023 by RIAA