Catalyzing Climate Finance: The Russell Family Foundation Case Study with Carbon Direct
By Brad Harrison
Within our wealth management division, our Climate Sustainability strategy is focused on accelerating the transition to a net-zero economy. Getting to a net-zero world requires scaling existing technology, building new technology, and making better use of the planet’s natural resources. It also requires unique collaborations within the financial services sector, rigorous internal processes for low-carbon portfolio management, and access to top-tier investment strategies across all asset classes. We believe net zero investing is not simply aspirational, it presents one of the most significant and compelling investment opportunities of our generation.
For the majority of our wealth management clients, the largest contributor of carbon emissions is their investment portfolio, referred to as Scope 3 financed emissions. This video introduces how we’ve partnered with Carbon Direct and a long-standing client, The Russell Family Foundation (TRFF)*, to advance their ambitious goals for net zero by 2030.
This is the natural next step to decarbonize the Foundation’s portfolio, building on decades of leadership in impact investing. In partnership with Carbon Direct, we’re documenting the journey towards net zero and building a playbook in an effort to demystify the often-complex nuances surrounding decarbonization, carbon accounting, and low-carbon portfolio management.
As described in the video, our goal in building this strategy is not simply to shift the investments within TRFF’s investment portfolio, it’s quite literally to be part of shifting trillions of dollars towards climate action. We know this because the global economy is betting on it: net zero targets currently cover 89% of the global population, 88% of global greenhouse gas emissions, and 92% of global gross domestic product, according to Net Zero Stockgate, which assesses the status and trends of net zero target setting across countries, governments, and countries.
Through our collaboration with Carbon Direct and third-party emissions data providers, we’ve developed a scalable, replicable process for advising clients on a path to net zero.
*TRFF is a client of Tiedemann Advisors, LLC, an RIA in the USWM division of AlTi.
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