NZIF 2.0: Implementation Guidance for Objectives and Targets - Section 9 Asset level targets:

5 3 Setting the target Table 35: Recommendations for type of infrastructure asset or influence of investor 4 Delivering the target Following the assessment of infrastructure To help deliver the alignment target, investors assets’ alignment, investors are recommended Type of are recommended to develop and disclose a to set alignment targets to increase alignment asset / Recommended timelines net ze. [...] Investors may of assets: influence utilise multiple levers to inform this strategy Ќ A 5-year asset alignment target for and to help infrastructure assets transition For any new assets where increasing the percentage of AUM or towards meeting the alignment criteria and the GP has a meaningful financed emissions in material sectors achieving the asset alignment target. [...] alignment criteria should be Portfolio construction achieved progressively, towards This target is encouraged to increase towards A number of portfolio construction decisions Meaningful the goal of 100% of operational the goal of 100% of AUM or financed emissions influence assets to be classified as ‘aligned’ are recommended to be considered within an to be net zero or aligned to a net zero pathwa. [...] Assets Targets are recommended to be set on a in the construction phase are Assess emissions intensity of the asset fund-by-fund basis by asset management Ќ recommended to be required to including scope 3 and facilitated emissions, but may also be set as an aggregate for the meet the ‘aligning’ criteria. [...] For fund of funds, the asset owner It is recommended that the different types of or asset managers shall aim, by For greenfield assets, this assessment is infrastructure assets and the different levels Ќ Fund of 2030 at the latest, to only invest recommended to consider full lifecycle of influence investors may have should be funds with firms or fund managers who emissions.