Pensioenfonds Metaal & Techniek (PMT) has reduced its CO2 emission intensity by almost a quarter over the past three years, the Dutch scheme announced.

The CO2 footprint left by the companies that PMT invests in has fallen for the third year in a row, and 10 per cent since 2016.

For every €100 the scheme invests in the equity portfolio was in 2017 accompanied by 17.7 kg of CO2, a reduction from 23.2 kg in 2014. That equals an intensity reduction of 23.7 per cent over the three years the fund has recorded its emissions.

The total CO2 emissions also decreased in the past year, the fund said in a statement.

“The total CO2 emissions of the equity portfolio amounted to 3,748,631 tons of CO2 in 2017 with an invested capital of €21.2bn. In 2016 this was 3,967,801 tons of CO2 with an invested capital of €20.2bn.”

The CO2 emission intensity, the emission per euro invested, is part of the fund’s climate policy to make annual measurements of the equity portfolio’s carbon footprint.

PMT, who signed the Montréal Pledge during the 2015 climate summit, agreed to measure its carbon footprint reduction as part of the agreement.

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