No, we do not charge funds that wish to adopt NZC. This is because we use the NZC target as a tool to engage with ethical and sustainable funds to encourage leadership on climate-friendly investing. However, to adopt NZC, funds must register with P1.
Yes – absolutely. We are very happy for smaller funds to be able to adopt NZC10.
Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 are indirect emissions from the generation of purchased energy. Scope 3 emissions are all indirect emissions (not included in scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions.
Yes certainly. So long as at launch the fund manager knows what the fund will be holding and has an appropriate engagement programme planned.
Yes, it is. NZC has already been adopted by corporate bond funds.
Yes, it is. NZC has already been adopted by equity funds.
Yes, it is. NZC has already been adopted by global equity funds.
The fund must be registered with P1, so please contact us. There is no charge for adopting NZC. .
No. Despite the name, NZC addresses emissions from all greenhouse gases, not just carbon dioxide.
NZC must be adopted on an individual fund level, so each separate fund must register to adopt it separately. This is because the portfolio of assets held by each fund must meet the requirements of the target. There are no cost implications for this as no fee is charged.
Yes, it can – but it would have to do so by each one of its funds individually adopting NZC. This is because the portfolio of assets held by each fund must meet the requirements of the target. There are no cost implications for this as no fee is charged.
No, a fund does not have to have other ethical, sustainable, responsible or ESG objectives. So long as the fund adheres to the specific NZC requirements it can adopt the target. NZC is a stand-alone target for fund managers that operates independently from other requirements.
We define carbon-neutrality using the BSI PAS 2060 standard. PAS 2060 includes scope 1, 2 and 3 emissions under the Greenhouse Gas Protocol.
We define carbon-neutrality using the BSI PAS 2060 standard. PAS 2060 covers ALL greenhouse gases, including methane, nitrous oxide and others.
Investors adopting the target work to encourage underlying companies to reduce their real-world emissions and offset residual emissions.
NZC10 asks for reductions to be made based on existing technologies. This reduces the risk that companies wait for future technologies to deal with their emissions. It also helps encourage firms to start reducing emissions now, rather than postponing action.