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LifeSight Ireland commits to net zero emissions by 2050 at the latest, with a 50% reduction by 2030.

03 August 2022 : LifeSight Ireland, WTW’s defined contribution master trust, announced that it is targeting net zero greenhouse gas emissions across its Default and lifecycle investment strategies by 2050 at the latest, with at least a 50% reduction by 2030. 

LifeSight embeds Environmental, Social and Governance (ESG) into its Default and lifecycle investment strategies. Its commitment to net zero covers all nine of its lifecycle strategies. 

As part of its ongoing commitment to sustainable investing, LifeSight has also continued to make a range of other enhancements on behalf of members. These include a new Climate Focus Equity Fund, following feedback from member surveys across LifeSight globally, which demonstrated a clear demand for this approach.  

The Climate Focus Equity Fund will have a low carbon footprint, exclude fossil fuels and emphasise investment in companies with lower carbon footprints, those transitioning their emissions to be Paris aligned and those providing solutions to climate and other environmental challenges. It will also take a broader lens to environmental issues, such as waste, pollution, water use and biodiversity, in addition to emissions. 

LifeSight has also partnered with a market leading engagement overlay provider to deliver additional stewardship services for the assets within LifeSight’s Default and lifecycle strategies. This will include daily engagement on a variety of ESG issues such as climate change, human rights and responsible supply chains. 

Speaking about the commitment, Maria Quinlan, Head of LifeSight in Ireland said, “Committing to net zero is a fundamental part of LifeSight’s sustainable investment policy. We have been at the forefront of sustainable investing for years and were the first master trust to start integrating sustainable investment considerations into all our Defaults. Climate change must be taken seriously, and we want to be a part of the transition to a net zero economy. Addressing climate change effectively requires collaboration across all industries and I am delighted that we can contribute to building a low-carbon economy.”  

Ciarán Long, Independent Chair of the Trustee commented, “Working to achieve net zero by 2050 is in line with the financial goals of LifeSight and its members, as climate change has the potential to impact returns across multiple asset classes. As a leading Master Trust, LifeSight has a responsibility to help shape the system going forward and contribute to stewarding a whole economy transition to a net zero and resilient future for the long-term financial benefit of our members. That is why we have committed LifeSight to this net zero target. We look forward to becoming part of the transition to a net zero economy.” 

Joseph O’Dea, Head of Investment in Ireland said, “We have set ourselves ambitious goals, but our organisational commitment is clear, supported in no small part by WTW’s Climate and Resilience Hub which employs 90 climate experts. In addition to this commitment, the our Climate Transition Analytics team has had great success with the launch of the Climate Transition Index (CTI) – a family of indices – in partnership with STOXX, an index provider. CTI offers a systematic and transparent way for investors to manage the financial risk that investment portfolios are exposed to.  This is just one of the initiatives that WTW and LifeSight are undertaking to take greater responsibility for the impact that we and the members of LifeSight can have with their pension savings”.