Company sets ambitious goals to cut emissions by 37.8% by 2029.
CTF Life has announced that its carbon reduction targets have been officially validated by the Science Based Targets initiative (SBTi). The company has set a clear objective to reduce its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 37.8% by the financial year 2029.
To achieve this goal, CTF Life will implement a series of measures aimed at reducing operational emissions. These include transitioning its vehicle fleet to electric vehicles (EVs), enhancing energy efficiency in office buildings, and prioritizing the use of renewable energy or renewable energy certificates (RECs) when necessary.
In addition to its efforts on Scope 1 and 2 emissions, the company is also focusing on Scope 3 Category 15 emissions. CTF Life plans to adopt an active ownership and engagement strategy, explore ESG-related products, and consider climate financing opportunities. The company will also strengthen its governance structure and seek partnerships to scale its impact in addressing broader emissions.
By June 2024, CTF Life has already reduced its investment portfolio’s carbon footprint by more than 15%, compared to baseline figures from June 2023.
The company has also made a significant financial commitment to sustainability, investing over US$450 million (HK$3.5 billion) in ESG-labelled bonds and decarbonisation impact funds. These investments are primarily focused on Asia, supporting the region’s transition to a more sustainable and greener economy.
(US$1 = HK$7.78)
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