Scope One
Direct greenhouse gas (GHG) emissions from sources owned or controlled by the reporting company; for example, emissions from combustion in boilers, furnaces or vehicles.
Our ambition is to achieve net zero emissions by 2050 across the assets we manage.
Let's talk about the big picture on emissions.
Scope Two
Indirect GHG emissions from the generation of purchased or acquired electricity, steam, heating or cooling consumed by the reporting company.
Scope Three
Indirect emissions that occur in the value chain (both upstream and downstream) not controlled by the reporting company.
We have been assessing our corporate operations and controlled portfolio companies’ emissions for several years. Our focus is on measuring the emissions of our controlled portfolio companies, where we believe we can drive the widest impact. We believe that the global focus on high-quality scope 1 and 2 emissions data will help with efforts across scope 3. We have also begun reporting scope 1 and 2 emissions of our non-controlled investments (financed emissions).
Case Studies
We are focused on decarbonization potential across our value chain, thereby preserving and creating value for our businesses.
Fostering Partnership to Drive Decarbonization
We invested in a developer of technologically advanced carbon capture and sequestration, which we believe can play a meaningful role in decarbonizing carbon-intensive sectors.
Using Circular Design To Lower Emissions
As climate change reshapes the modular services and infrastructure industry, we continue to support our portfolio companies endeavoring to be leaders in the circular economy.
Reduction of Utility Emissions
Investing in businesses that support customer objectives and contribute to local climate action plans.
Avoiding the Brown Discount
Many corporate tenants have made their own net zero commitments, necessitating addressing office occupancy emissions. Brookfield can take an outsized role in delivering solutions.
Our Approach
1
Operational Change
2
Decarbonization Investments
1
Operational Change
Across Brookfield, our business and portfolio companies seek to:
Step 1
Commit to a net-zero ambition and set near-term targets
Demonstrate our progress towards meeting our ambition as a signatory to the Net Zero Asset Managers initiative.
Step 2
Share best practices and operational excellence
Guide our investment professionals and portfolio companies on methods to identify climate opportunities and emissions reduction initiatives.
Step 3
Apply a net-zero framework
Our Achieving Net Zero Framework sets a foundation for portfolio companies to achieve its maximum decarbonization potential.
Step 4
Measure and report
Provide transparency to stakeholders and report on progress through our disclosures, including scope 1 and 2 emissions of underlying investments and our financed emissions, representing over 75% of total Invested AUM.2
Step 5
Evaluate our net-zero ambition and reset near-term targets
Recalibrate and advance our ambition every five years.
2 Invested AUM represents AUM as of December 31, 2023 adjusted to exclude uninvested capital, cash and cash equivalents, and investments where emissions would otherwise be double counted. Please refer to our 2023 Sustainability Report page [xx] for additional details.
1
Operational Change
2
Decarbonization Investments
2
Decarbonization Investments
Annual Investment Must Accelerate
Achieving net zero by 2050 is estimated to require a 4x increase of annual investments into energy transition and renewable asset classes by 2050.
Our Capital and Deployment
Across our businesses—Renewable Power & Transition, Infrastructure, Private Equity, Real Estate and Credit—we are mobilizing capital to facilitate a transition to a lower-carbon economy.
We have deployed capital into “Climate Solutions,” or assets that directly remove or reduce real-economy GHG emissions, and “Climate Enablers,” assets that indirectly contribute to, but are necessary for, emissions reductions by facilitating the deployment and scaling of Climate Solutions or supporting the decarbonization of other actors’ operations.³
Climate Solutions
$85B
Clean Energy
$45B
Sustainable Solutions & Key Infrastructure
$3B
Business Transformation
Enablers
$134B
Green Certified Buildings
$25B
Demand-side Decarbonization
Renewable Energy Operator and Developer
Our Renewable Power & Transition business is one of the world’s largest investors, developers, owners, and operators of clean power and decarbonization assets.
$101B
Renewable Power & Transition AUM
+$25B
Capital raised for the world’s largest transition-focused private fund
~31,400MW
clean energy operating capacity, currently avoiding 42M tCO2e annually
=
~100%
of emissions from France’s energy sector4
³ GFANZ “Scaling Transition Finance and Real-Economy Decarbonization;” December 2023; https://assets.bbhub.io/company/sites/63/2023/11/Transition-Finance-and-Real-Economy-Decarbonization-December-2023.pdf page 20.
⁴ Source: Based on Brookfield’s internal analysis, leveraging emissions factors from the IFI Harmonised and 2022 GHG Emissions data from the French Ministry of the Energy Transition.
For a more detailed overview of Brookfield’s sustainability strategy and approach, please visit our 2023 Sustainability Report.
For more information on Brookfield Corporation's sustainability progress, please click here.
