The $13 billion Australian based Credit Asset Manager La Trobe Financial joins a growing list of Asset Managers focusing on ESG and climate, announcing today that it has achieved a carbon neutral milestone following its independent carbon footprint assessment.
La Trobe Financial has worked closely with independent advisers Carbon Neutral to measure its assessment of emissions activities. The methodology used is in accordance with the Greenhouse Gas Protocol from the World Resources Institute, using additional data from the Commonwealth Government, international and domestic governments and academic resources. To achieve carbon neutrality, La Trobe Financial has offset its carbon footprint and has invested in projects that reduce or absorb greenhouse gas emissions equal to what they produced through the year. Carbon Neutral have advised that these projects have been recognised as high integrity Gold Standard projects.
Commenting on the firm’s carbon status, Chris Andrews, Deputy CEO & Chief Investment Officer at La Trobe Financial said “We are very proud of the approval of our carbon neutral footprint program. We recognise in today’s market that this is a key business metric. We have documented a formal Carbon Reduction Plan, so that we can meet future targets and go beyond simply offsetting our carbon emissions. In the current plan, we propose to implement multiple projects to ensure that we reach our business commitment to 100% carbon zero by 2030. A commitment that we have pledged in our group ESG Framework approved by our Board.
Caterina Nesci, Director of ESG & International Partnerships added “To have completed this critical assessment with Carbon Neutral during the past 6 months is a real achievement. We now have our carbon footprint benchmark and intend to reduce our footprint every year moving forward. Doing this is clearly in the interest of the company and important for the future of the planet. We will be activating a number of projects over coming months including reducing travel emissions, sustainable procurement practices, reducing waste and landfill, and aiming to become paperless just to name a few. This will involve every aspect of the business and all staff are truly committed to playing their part in this important work.”
La Trobe Financial will be making further announcements in the next few months regarding its ESG commitments, so watch this space.
About La Trobe Financial
Established in 1952 and with $13 billion of assets under management, La Trobe Financial is one of Australia’s oldest credit asset managers, specialising in credit investment solutions and real estate finance. La Trobe Financial has been a proven and trusted investment partner for institutional and retail investors for seven decades, operating Australia’s largest retail Credit Fund with over $6.5 billion in assets under management and 55,000 retail investors. La Trobe Financial has 5,100 distribution points across its two divisional arms – Wealth products are distributed through 1,600 advice practices and real estate credit finance is distributed through 3,500 brokers. La Trobe Financial employs 450 staff over 4 offices.
La Trobe Financial is 80% owned by Blackstone and 20% owned by management.
The Blackstone Group Inc. (together with its affiliates, “Blackstone”) is one of the world’s leading investment firms. Blackstone is based in New York, with 27 additional offices around the world. Blackstone’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, credit, secondary funds, opportunistic, growth, infrastructure, insurance solutions and life sciences. The firm was founded in 1985 by Stephen A. Schwarzman, its current Chairman and CEO, and Peter G. Peterson. As of June 30, 2021, Blackstone employed over 3,400 people, including 185 senior managing directors and has US$689 billion of AUM. Blackstone’s 260 portfolio companies generate approximately $136 billion in revenue and employ approximately 500,000 people.
La Trobe Financial is regulated by the Australian Securities & Investments Commission (ASIC) and holds the requisite regulatory AFSL and ACL to operate the Credit Fund, place RMBS issuances, and provide credit services.
About Carbon Neutral
Carbon Neutral is one of Australia’s leading carbon services and carbon offset providers and has been helping organisations reduce their climate impact for more than 20 years, aiming to create a more sustainable planet for future generations. Carbon Neutral has grown to be a market leader with a global reputation and are the developers of Australia’s largest biodiverse reforestation project, which is the only Gold Standard certified project in Australia. To date, we’ve planted more than 30 million native species in our award-winning Yarra Yarra Biodiversity Corridor. Demonstrating a commitment to the environment and our clients, Carbon Neutral’s services include carbon measurement and advisory, emissions reduction strategies, biodiverse reforestation, and carbon offset solutions.
