LifePath’s responsible investment credentials
Over the past two years, we’ve worked closely with BlackRock to move assets in the LifePath default strategies into funds incorporating environmental, social and governance (ESG) screens.
As at December 2022, 80% of assets in the early years and 45% in the retirement stage fund have been moved into funds incorporating ESG screens1.
An average of 66%1 of assets across all LifePath target-dated versions are managed to ESG mandates. We plan to increase these levels over the coming months and years, in line with the LifePath climate objective that states the funds will aim to target an absolute reduction of 50% in carbon emissions intensity by sales, over the 10-year period between June 2019 to June 20292.
This aligns with our commitment, made in 2019, to reach net zero by 2050 and to halve emissions by 2030 for our default funds.
BlackRock, like Aegon, has committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner. It’s an active steward of the funds it manages and a member of the Net Zero Asset Managers Initiative.
BlackRock has invested significantly in its 70-strong investment stewardship team. Their team engages with companies on effective corporate governance and how companies are managing material sustainability-related risks and opportunities. It has $586 billion in assets under management (as at December 2022) in dedicated sustainable strategies3.