Institutional investors managing assets worth more than £850billion
($1600bn) pledged last month to use their collective financial weight
to encourage companies to reduce their greenhouse gas emissions.
The Investor Statement on Climate Change has been signed by many of
Europe’s largest pension funds and asset managers, including the BBC
Pension Trust, BNP Paribas Asset Management, the Greater Manchester
Pension Fund, Hermes, Insight Investment, and the Universities
Superannuation Scheme. The institutional investors will engage with
companies ‘to ensure they are minimizing the risks and maximizing the
opportunities presented by climate change and climate policy’.
They will also require their asset managers to consider climate change
when making investment decisions and will link this to the compensation
of asset managers.
The statement has been produced with the Institutional Investors Group
on Climate Change, an industry body for pension funds and institutional
investors.
