Fidelity International

FIDELITY INTERNATIONAL ACCELERATES NET ZERO GOAL BY A DECADE TO 2030

02 August 2021

Fidelity International publishes 2021 Corporate Sustainability Report outlining its role in helping the environment and society.
Commits to reducing its own emissions to net zero by 2030, bringing ahead its previous commitment by 10 years.

Fidelity International (Fidelity) is accelerating its commitment to reduce company-wide operational carbon emissions to net zero to 2030*, 10 years ahead of its previous goal of 2040.

Fidelity’s path to net zero will prioritise the avoidance and reduction of emissions through operational improvements in the energy efficiency of its offices, responsible business travel and the use of renewable energy.

The new goal was set out as part of Fidelity’s Corporate Sustainability Report published today and adds to other net zero initiatives previously announced including a commitment to investing aligned with net-zero emissions on or before 2050 as part of the Net Zero Asset Manager initiative, of which Fidelity is a founding signatory.

Paras Anand, Chief Investment Officer, Asia Pacific and sponsor of Fidelity’s Corporate Sustainability Committee, comments: “When we first set out net zero target in 2020, our goal was to deliver real and measurable emission reductions rather than simply offsetting the carbon we use, and we believed we could achieve this by 2040. We’ve worked hard in the last year to improve the data on our carbon emissions in all the locations we operate in globally, and that has given us the confidence that we can be more ambitious in our target. We believe that this sort of continuous improvement is vital to ensure that we are placing our impact on the environment as key consideration in our overall business strategy.”

In addition to its net zero target, Fidelity has committed to a range of other sustainability goals for 2024 focusing on the environment, workplace, supply chain and communities. These include:

Improving our environment: A 25% reduction in energy consumption, 25% waste reduction and 80% increase to recycling rate in comparison to 2019 levels.
Strengthening our workplace: 35% of global senior management roles to be held by women and 45% of global workforce to be women.
Buying responsibly from our suppliers: ESG monitoring for 90% of our high-risk suppliers and 95% of tenders to include at least one diverse supplier.
Creating resilient communities: Year on year increase in employee use of volunteering hours and 200+ charities supported.

Anne Richards, Chief Executive Officer at Fidelity International comments: “The last 18 months of the pandemic has seen us pivot our entire business to allow for working from home across all our locations globally while still delivering on our strategic priorities. What we have learned is that we can be more ambitious and do far more than we ever imagined was possible, even during a pandemic.

"Our aim is to apply that same thinking to the climate challenge and sustainability issues more broadly and I am delighted that we have been able to bring forward our net zero ambition and progress in a range of other areas from supply chain management to diversity and inclusion."

Today’s announcement follows the publication of Fidelity International’s Sustainable Investing Voting Principles and Guidelines last week, introducing new global policies on climate change and gender diversity.

Notes to Editors:
Fidelity International operates in 25 locations outside of the US and is independent from US-based Fidelity Investment.

* Fidelity International’s 2030 net zero commitment relates to Scope 1 & 2 greenhouse-gas emissions in its own operations. Scope 1 emissions are emissions from sources that are owned or controlled by a company and Scope 2 emissions are gas emissions resulting from the generation of electricity, heat or steam purchased by a company. In 2021, Fidelity will also focus on better understanding and measuring Scope 3 emissions (emissions not owned or directly controlled by a company but related to its activities). It has also committed to a 50% reduction in air travel carbon emissions and 25% waste reduction by 2024.

Useful documents:
Fidelity International Corporate Sustainability Report 2021
Fidelity International Sustainable Investing Voting Principles and Guidelines 2021
Fidelity International Sustainable Investing Report 2021

About Fidelity International

Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $706.3 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.

Fidelity only offers information on products and services and does not provide investment advice based on individual circumstances, other than when specifically stipulated by an appropriately authorised firm, in a formal communication with the client.

Fidelity International refers to the group of companies which form the global investment management organisation that provides information on products and services in designated jurisdictions outside of North America. This communication is not directed at, and must not be acted upon by persons inside the United States and is otherwise only directed at persons residing in jurisdictions where the relevant funds are authorised for distribution or where no such authorisation is required.

Unless otherwise stated all products and services are provided by Fidelity International, and all views expressed are those of Fidelity International. Fidelity, Fidelity International, the Fidelity International logo and F symbol are registered trademarks of FIL Limited.

Investors should note that the views expressed may no longer be current and may have already been acted upon.

Portugal: Issued by FIL (Luxembourg) S.A., authorised and supervised by the CSSF (Commission de Surveillance du Secteur Financier).

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