Rothesay has set a new short-term carbon intensity reduction target, highlighting this as a “key milestone” on its pathway to net zero.

In its sustainability and climate report, the latter of which is aligned with the Task Force on Climate-related Financial Disclosures (TCFD), Rothesay announced that it has continued to make "significant progress" against its sustainability commitments.

It also announced a number of new short-term priorities identified through its net-zero transition planning process.

Central to this is a commitment to achieve a 50 per cent carbon intensity (CI) reduction across its total investment portfolio by 2030, building on the target it introduced last year to see a similar reduction across its publicly traded corporate debt portfolio.

In its climate report, Rothesay said it is looking to reduce the scope 1 & 2 CI of its total
portfolio by 20 per cent over the five years beginning with the baseline set in 2020.

In addition to this, it is aiming to reduce the Scope 1 and 2 CI of its publicly traded corporate debt (PTCD) portfolio by 50 per cent over the same timeframe.

Commenting on the new targets, Rothesay chief executive officer, Tom Pearce, said: “At Rothesay, we are clear that embedding sustainability principles across our business plays a fundamental role in delivering on our central purpose: providing our policyholders with security for the future.

“We are committed to creating a positive impact through all of our operations and for all of our stakeholders, including our policyholders, suppliers, people, community and investors.

“These reports update on the significant progress we have made in achieving our sustainability commitments over the last year along with the new targets that will further strengthen them.

“As always, though, we recognise that more can be done and we will continue to challenge our business to further enhance the positive change we can make.”

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