Tribe announces validated Science Based Target

22.06.2023
News
2 mins read time

We’re delighted to announce our validated , following on from our initial commitment to sign up to the Science Based Target Initiative (SBTi) 1 in 2019 2 . Our SBT covers our entire business, with a particular focus on our portfolio emissions.

show organizations how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change. SBTs also bring them in line with the thresholds established under the . We now join a growing community of over 2,900 companies around the world in having established a credible science-based target, of which 63 are financial service companies.

Tribe’s SBT commits the business to: 

Scope 1 and 2: Reduce absolute GHG emissions 70% by 2030 from a 2020 base year. We commit to continue active annual sourcing of 100% renewable electricity through 2030. 

Scope 3 categories 1-14: Reduce absolute GHG emissions 50% by 2030 from a 2020 base year. 

Scope 3 Portfolio Targets 

Headline target: Our portfolio targets cover 75% of our total investment and lending by assets under management as of 2020. As of that year, required activities made up 75% of our total investment and lending by assets under management while optional activities made up 14% and out of scope activities made up 11%. 

  1. Real Estate: We have utilised a Sector Decarbonization Approach (SDA) here that commits the business to reduce its real estate portfolio GHG emissions 60% per square meter by 2030 from a 2020 base year. 
  1. Electricity Generation Project Finance: We have utilised an SDA approach here based on maintenance of the business’s current levels of performance and that commits the business to continue providing electricity generation project finance for only renewable electricity through 2030. 
  1. Listed Equity and Corporate Bonds:
      • We have utilised a Temperature Rating (TR) approach here that commits the business to align its Scope 1 + 2 portfolio temperature score by invested value within the listed equity and corporate bond portfolio from 2.71°C in 2020 to 2.29°C by 2027; and
      • its Scope 1 + 2 + 3 portfolio temperature score by invested value within the listed equity and corporate bond portfolio from 2.89°C in 2020 to 2.39°C by 2027. 

    More information can be found in our 5th Annual Sustainability Report.

    Download annual report

      Footnotes

      1. https://sciencebasedtargets.org/
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      2. https://tribeimpactcapital.com/impact-hub/tribes-first-impact-report-climate-declaration/
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      Disclaimer

      Important Information: Tribe Impact Capital LLP is authorised and regulated by the Financial Conduct Authority (“FCA”). Our FCA registration details are set out in the FCA Register under Firm Reference number 756411 (www.fca.org.uk). Tribe Impact Capital LLP is registered in England and Wales (registered number OC411984) and our registered office is 52 Jermyn Street, London SW1Y 6LX. This document does not provide you with enough information to make an informed investment decision. Neither does it constitute advice or a personal recommendation or take into account the particular investment objectives, financial situations or needs of individual clients. If you are not an existing client of Tribe Impact Capital LLP, this document is considered to be marketing material. Whilst this document may contain information about specific companies it is not an investment research report as defined by the FCA. This document is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any investments. You are recommended to seek advice concerning suitability of any intended investment decision from your investment adviser. Past performance is not a reliable indicator of future performance; and the value of investments, as well as the income from them can go down as well as up. Investors may get back less than the original amount invested. Any type of impact investment will involve risk to investors capital and the expected environmental or social return may not be achieved. The information and opinions expressed herein are based on current public information we believe to be reliable; but we do not represent that they are accurate or complete, and they should not be relied upon as such. Any information herein is given in good faith but is subject to change without notice. No liability is accepted whatsoever by Tribe Impact Capital LLP or its employees and associated companies for any direct or consequential loss arising from this document. This document is not for distribution outside the European Economic Area.

      The value of any investments and the income from them can go up or down so you may get back less than your initial investment.