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Climate action plan
Committed to net-zero portfolio emissions by 2040 or sooner
With interim carbon footprint reduction targets from a 2021 baseline (CO2e/$M invested):
16.5% by 2025 and 60% by 2030
Our Climate Action Plan outlines the steps and tools we will take to achieve our net-zero target and manage climate-related investment risks and opportunities.
Climate Action Plan Progress Highlights
Portfolio GHG emissions intensity reduction
To track our progress against our net-zero commitment, we annually calculate and report the emissions associated with our investments. UPP’s portfolio GHG emissions intensity ended 2024 at 20 tonnes CO2 e/$M invested, down 59% from our 2021 baseline and far exceeding our 2025 target.
UPP’s 2024 GHG emissions intensity and targets
Tonnes CO2e/$M invested
Climate solutions commitments
Since 2023, UPP has committed $650 million to climate solutions, making good progress toward our goal of committing $1.2 billion to climate solutions by 2030. This target includes new commitments to funds across several public and private asset classes, as well as direct investments or co-investments, which can be classified as a climate solution according to our Climate Transition Investment Framework.
UPP’s Climate Transition Investment Framework is an essential foundation to our net-zero strategy that will enable us to systematically evaluate the transition alignment and readiness of our current portfolio and new investment opportunities.
UPP’s climate solutions commitments
Engaging companies to drive credible climate plans and disclosures
Our Climate Stewardship Plan sets out how we will engage with portfolio companies and market actors to encourage the net-zero transition and sufficient climate-related disclosure. It features targeted and measurable strategies for UPP’s engagement and advocacy efforts, as well as a time-bound action plan to strengthen our proxy voting activities.
Participation in the UN-convened Net-Zero Asset Owner Alliance
UPP joined the UN-convened Net-Zero Asset Owner Alliance (NZAOA) in 2022, fulfilling a key commitment from our Climate Action Plan. The NZAOA comprises the global institutional investors committed to transitioning their investment portfolios to net-zero GHG emissions by 2050. Our continued participation in the NAZAOA in 2024 amplified our message through industry positions, guidelines, and collaborative efforts to address the challenges external managers face and provide clarity on the needs of asset owners.
How we invest
Our investment mandate is to earn sufficient long-term returns, at an appropriate level of risk, to deliver secure, stable pension income to our members today and tomorrow.
Responsible investing
As a long-term investor, we must take meaningful action to create sustainable value through evidence-based practices.
Reports and disclosures
Access our investment policies, proxy voting records, statements and submission, and responsible investing plans and frameworks—all in one place.
- © 2025 University Pension Plan