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 20 GW, we now produce more than enough green energy to power London, U.K. and we will more than double that amount once our development portfolio is brought online.
We recognize that further renewable power capacity must be rapidly scaled to replace fossil fuel generation and meet expanding global electricity demand so that the world can eliminate the more than 70% of global emissions that come from final energy consumption as quickly as possible.
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 go further
In addition to continuing to make major investments in renewable energy globally, we will manage our investments to be consistent with the transition to a net zero economy. As a recent signatory to the Net Zero Asset Managers initiative, we have made a commitment to investing aligned with net zero emissions by 2050 and implementation of science-based approaches and standardized methodologies through which to deliver these commitments.
We will help accelerate the transition to Net Zero
We will catalyze companies onto Paris-aligned net zero pathways 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.