AMP, a financial services company, is committed and is taking steps to reduce its carbon/greenhouse gas (GHG) emissions. The company aims to achieve carbon neutrality across its global operations and has specific targets for scope 1 and scope 2 emissions. In terms of current emissions, in 2022, the company’s scope 1 & scope 2 emissions were 5,083 (tCO2-e) and scope 3 GHG emissions was 1,971 (tCO2-e). The company's emissions reduction efforts have resulted in a 75% reduction in operational scope 1 and 2 emissions compared to its 2019 base year. In 2022, AMP sustained its carbon neutral status while achieving substantial reductions in emissions, surpassing the set target of a 42% decrease in scope 1 and 2 emissions by 2030, compared to the 2019 baseline.

AMP has implemented various measures. It has upgraded the capacity of a geothermal power plant in Indonesia, which generates renewable energy. The company is also involved in a solar power project in India. Additionally, AMP has retired Australian Carbon Credit Units and Verified Carbon Standard offsets from projects such as native forest restoration and regeneration in Australia. The company offsets its residual emissions with high-quality Australian and international carbon offsets.

AMP is committed to managing and addressing climate change risks in its investments. It has assessed the climate risks of its investments for over a decade and calculates the greenhouse gas exposure of its equity investments. The company has published the carbon footprints of its flagship managed funds relative to their benchmarks to enhance customers' understanding of climate-related investment risks. AMP Investments, the company's investment arm, has been actively reducing its operating carbon footprint and extending its commitment to its investment funds, including KiwiSaver.

While AMP acknowledges the challenges in estimating scope 3 financed emissions, it is working with the industry to improve data availability and quality. The company is part of the Climate Action 100+ initiative, which aims to ensure that major corporate emitters take action on climate change. AMP is collaborating with BHP, a mining company, to reduce greenhouse gas emissions.

In conclusion, AMP is dedicated and is making progress in reducing its carbon/greenhouse gas emissions. The company has implemented various measures, including renewable energy projects and carbon offsetting, to achieve its goals. AMP is also actively managing climate change risks in its investments and collaborating with other companies to address climate change.

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