As a significant asset manager and asset owner in regions forecast to be severely impacted by climate change, Prudential has a distinctive role to play in the transition to a low-carbon economy. Recognising this, in May 2021 we set a target to be net zero by 2050 for our insurance assets, supported by a recently updated target of 55 per cent reduction in emissions from our investment portfolio by 2030. By the end of 2022, we had reduced the weighted average carbon intensity (WACI) of our investment portfolio by 43 per cent against our 2019 baseline.