Environmental, Social and Governance (ESG) standards

Sustainability Reporting

As part of the new framework developed by the Task Force on Climate-Related Financial Disclosures, the Emerson UK Pension Plan are in the process of drafting their first TCFD report, which the Trustee plans to publish on the Plan's website along with the reports and accounts during summer 2023. This report will include information on the Governance of the Plan's climate related risks and opportunities, the impact of these risks on the strategic and financial positions of the Plan, and how the Trustee identifies and manages climate risks. This report will also publicly outline the Plan's Net-Zero targets, as well as the Plan's progress against these targets, alongside other metrics and data such as but not limited to carbon emissions.

Net Zero Targets

The Trustee has set a medium and long term net-zero target, the latter of which the Trustee has aligned with the Company, to reach net-zero greenhouse gas (GHG) emissions of scopes 1, 2 and 3 by 2045, with the medium term target being a 50% reduction by 2030 compared to a 2021 baseline.

Statement of Sustainable Investment Beliefs

During 2022, the Trustee also drafted a statement of Sustainable Investment Beliefs, which can be found below your reference. This policy is referred to by the Plan's investment advisor when taking decisive strategic actions, as well as in the appointment of new investment managers.

We hope this provides some further understanding as to the actions currently taken by the Trustee for the Pension Plan, however, we are happy to answer any further queries you have on these important topics.

Please read the ‘Statement of Sustainable Investment Beliefs’ report, compiled by Willis Towers Watson.