Perpetual delivers new sustainability strategy

On Friday, the company confirmed its plan is to “create enduring prosperity, not only for our clients and shareholders, but also for communities and the environment”.

In a post to LinkedIn, Perpetual said: “With a deep and proud heritage in responsible investing, this plan builds on our existing sustainability activities within four key areas of focus — planet, people, communities, and governance — and outlines 35 commitments in areas where we can have true impact.”

The plan, detailed in a document posted to Perpetual's website, was drafted in consultation with the company's clients, employees, shareholders, and other stakeholders, and sets out the material sustainability issues that are most relevant for the business.

Under its four key focus areas, priority themes include decarbonisation which will see the company significantly reduce investment exposure to carbon-related risks. Perpetual also plans to up its engagement in the local environment by improving waste and paper usage, and using sustainable buildings.

Moreover, the company confirmed that it would engage in First Nations advocacy and support, while also increasing its participation in volunteering, community giving, and philanthropy services.

Diversity and inclusion are a key part of its focus on people, with Perpetual committed to inclusive hiring and the creation of an inclusive culture and sense of belonging.

“Across each strategic pillar, we have set targets with actions we are taking today to implement them, and we have identified key metrics to track our progress,” Perpetual said.

Key commitments include achieving carbon-neutral operations by the financial year 2023, alongside 100 per cent renewably powered operations by the financial year 2025, and at least 40 per cent women in leadership by the financial year 2024.

The investment advice company also plans to launch a Global Human Rights Framework by FY25, and has committed to making Perpetual an employer of choice by providing 10 days of community and wellbeing leave for all of its Australian employees, among other things.

Last month, Perpetual entered into a binding scheme implementation deed with Pendal, under which it intends to acquire 100 per cent of shares in the investment manager.

The acquisition is expected to create a leading global asset manager with significant scale and pro-forma assets under management of $201 billion.