We support the goal of net-zero greenhouse gas (‘GHG’) emissions by 2050 or sooner.
Over the past 25 years, Brookfield has built one of the largest private renewable power businesses in the world. With installed renewable generating capacity of 21 GW, we now produce more than enough green energy to power London, U.K. and we aim to double that capacity by 2030.
To ensure that our portfolio aligns with climate action best practices, we made a commitment to reach net-zero emissions by 2050 or sooner across all assets under management.
We have set an interim target to achieve an approximately two-thirds reduction in Scope 1 and 2 emissions for $147 billion of AUM— approximately one-third of our total portfolio—by 2030 or sooner.
Brookfield intends to build on this leading position in renewable power and do much more to contribute to the transition to net zero.
We Will Help Accelerate the Transition to Net Zero
We will catalyze companies onto net-zero pathways aligned with the Paris Agreement through our new global transition investment strategy, focusing specifically on investments that will accelerate the transition to a net-zero carbon economy.
We Will Collaborate
We will work with leading private-sector initiatives to advance the role of finance in supporting the economy-wide transition, to accelerate capital flows consistent with the Paris Agreement and to promote widespread adoption of decision-useful methodologies to support credible transition planning, analysis and investing.
We Are Committed to Transparency
- We will track and report GHG emissions consistent with GHG Protocol and PCAF standards.
- We will publish decarbonization plans every five years consistent with the Paris Agreement.
- We continue to align our business with the TCFD recommendations and are targeting to incorporate TCFD disclosures for the 2022 fiscal year.
We Will Continue to Pursue Industry-Leading Returns
We will continue to pursue industry-leading returns for our investors, consistent with our long track record of building the backbone of a more sustainable global economy.