Shareholders back off BP to ramp up pressure on Shell and Exxon
Shareholders have overwhelmingly supported BP’s board despite the oil and gas supermajor backtracking on its climate targets, focussing their pressure on Shell and Exxon instead
Aysha Gilmore
CDPQ: ’ It is essential not to contribute to increased oil and coal production’
CDPQ's Marc André Blanchard makes the case against investing in new oil and coal projects
Danish pension fund divests from oil and gas firms expanding in production
At Danish pension fund P+'s AGM this week members overwhelmingly backed a resolution to tighten the investors fossil fuel policy
Norwegian investors ramp up voting engagement with oil and gas supermajors
Last AGM season Norwegian investors supported nearly all climate activist resolutions at oil and gas supermajors but will this behaviour continue in 2024?
Investors put pressure on Woodside Energy over climate concerns
ACCR and $81bn HESTA have put pressure on Woodside Energy ahead of its 2024 AGM but will $316bn AustralianSuper, a major shareholder, do the same?
CalSTRS’Jenkinson on political headwinds and investing in hybrid climate solutions
Sitting down with Aysha Gilmore, Kirsty Jenkinson talks about the significant role private markets will play in transitioning the $334.8bn CalSTRS pension fund to net zero
Green hydrogen: the ‘champagne’ of the energy transition?
As part of Net Zero Investor’s first instalment in a climate solutions series, Aysha Gilmore takes a deeper look at the case for investing in hydrogen
Investors split over ‘necessity’ of FMLC paper on fiduciary duty and climate risk
At the UKSIF’s Ownership Day in London, investors debated over whether the FMLC’s recent paper on fiduciary duty and climate risks is ‘beating the right players over the head’.
Are UK investors turning their backs on private markets?
During the PLSA conference in Edinburgh, pension funds were split about the benefits of investing in private markets, with lack of transparency on carbon footprints being one concern
‘Don’t get lost in the noise’ of short-term geopolitical risks, investors at the PLSA warn
Investors at the UK's annual PLSA Investment Conference warn that elections and geopolitics could distract investors from long-term climate risks
James Monk: FutureWise is creating a ‘different philosophy’ for decarbonisation
In conversation with Net Zero Investor, Fidelity's James Monk highlights how FutureWise is decarbonising through a carbon budget
Oregon pension fund to review fossil fuel investments
The Oregon state pension fund has launched its net zero strategy and committed to reaching net zero by 2050
NBIM ramps up net zero divestment and engagement
The $1.4trn manager of Norway’s sovereign wealth fund has released its responsible investment 2023 report, highlighting an increased focus on achieving its net zero commitments.
Net zero reporting: ‘inaction’ not an excuse for data inconsistency in private markets
Data disclosure in private markets can prove challenging for asset owners. Aysha Gilmore takes a look at how investors are pushing for greater transparency
Climate modelling ‘not fit for purpose’
At Net Zero Investor’s DC Forum investors discussed why they lack faith in current climate modelling and the way forward
Smart Pension’s James Lawrence on DC investment in climate solutions
Ahead of Net Zero Investor’s DC forum this week, James Lawrence from Smart Pension gives an insight on the master trust’s climate transition plans for 2024
Investors worth $25trn push back on ‘laggard’ mining companies
A coalition of investors are set to engage with 100+ mining companies to adopt global tailings standards.
Investors are ‘flying blind’ to climate lawsuit risks
Research revealed that investors are not taking climate-litigation risks into account, which could cause significant financial risks
CalPERS’ CEO pushes back on fossil fuel divestment calls
Marcie Frost highlights that CalPERS would be abandoning its fiduciary duty if it were to dispose of its fossil fuel holdings
NZI Annual Conference: engagement with BP and Shell is ‘a lost cause’
At Net Zero Investor’s second Annual Conference at the London Stock Exchange asset owners debated about the best ways to successfully engage with hard-to-abate sectors.
Oil and gas: to divest or not to divest?
As some oil and gas companies have backtracked on their net zero commitments in the past year is now the time to divest?
Trustees call for a re-definition of fiduciary duty to drive net zero transition
At the Pensions and Lifetime Savings Associations’ ESG conference in London, trustees and campaigners warn that fiduciary duty is hindering pension funds’ ability to allocate capital towards climate solutions.
COP28: how are gulf sovereign wealth funds investing in the energy transition?
As COP28 is set to kick off later this week in Dubai, Net Zero Investor takes a closer look at how sovereign wealth funds in the region are transitioning towards net zero
LGPS investors look to natural capital to drive their net zero transition
UK local authority asset owners are showing increased interest in natural capital to help decarbonise and diversify their portfolios
Funding the wood for the trees: UK investors turn to timberland to decarbonise their portfolios
Aysha Gilmore explores how UK asset owners are investing in carbon offsets such as timberland to help them transition to net zero
Peter Rasmussen: asset manager action on net zero has been ‘disappointing’
In an interview with Net Zero Investor, the head of sustainability at $18bn Lægernes Pension argues that asset managers should do the “heavy lifting” on climate stewardship
PLSA: Pension funds raise caution on renewables outlook
Pension funds explain that they are not expecting to commit further to renewables due to their funding position and various government initiatives
LGPS Central launches new net zero strategy to ‘decarbonise real economy’
Patrick O'Hara and Edward Baker from LGPS Central talk to Net Zero Investor about the pensions pools newly launched net zero strategy.
Bishop Graham: ‘levering change’ through the Church of England’s investments
In an interview with Net Zero Investor, Bishop Graham outlines what is next for the Church of England’s net zero journey.
Staffan Hansén: aligning AP3’s portfolio to net zero
AP3’s CEO explains how the Swedish pension fund is tackling the challenge of decarbonising its portfolio
Viñes Fiestas: ‘the anti-ESG backlash has not impacted climate-related investments’
The chair of the EU Platform on Sustainable Finance argues that the ESG pushback in the US has not impacted green investment.
UK asset owners crank up pressure on managers not following their AGM voting priorities
On the launch of Scottish Widows' 2022 Stewardship Report, the UK pension fund warns that it will take 'tougher action' on investment managers not following its sustainability voting priorities.
Aviva’s warning to MPs: London’s global warming much higher than Paris goals
Speaking to MPs today, the chief responsible investment officer at Aviva Investors urged caution around greenhouse emissions targets
Günther Thallinger: blended finance will ‘accelerate’ a just energy transition
The chair of the Net-Zero Asset Owner Alliance has suggested that blended finance will help unlock institutional investment into emerging economies
30 investors urge European banks to stop financing fossil fuels
Investors worth over $1.5trn have called on European banks, including Barclays and BNP Paribas, to stop financing new oil and gas fields amid the race to net zero.
Norway’s wealth fund ‘has no exposure left’ in Adani Group
Norges Bank Investment Management’s head of ESG risk monitoring confirmed that the fund has fully divested from the Indian conglomerate due to climate risks.
$5trn investor coalition launches sovereign debt framework
A collaboration of asset owners and managers has proposed a new framework to help investors assess the climate risks and opportunities in individual countries.
Investor coalition ‘disallows’ use of carbon removals in net-zero protocol
The UN-convened Net-Zero Asset Owner Alliance has published the third edition of its Target Setting Protocol, which reflects the latest science to deliver net zero without carbon removal schemes.
CSDDD: ‘a critical opportunity to accelerate the net-zero transition’
With the EU’s Corporate Sustainability Due Diligence Directive making legislative progress, investment professionals explore how it will help speed up the net-zero transition.
Record number of investors targeting corporate climate change disclosures
The Carbon Disclosure Project’s 2022 Non-Disclosure Campaign has reported that more investors are targeting companies to disclose on key environmental issues such as water security and forestry.
NZIA launches Target-Setting Protocol to ‘decarbonise real economy’
The Net-Zero Insurance Alliance launched the protocol at the World Economic Forum in Davos to help accelerate the transition to a net-zero economy.
Birol: ‘new industrial age’ in clean energy technology
The IEA’s executive director predicts substantial growth in clean energy manufacturing, offering ‘big dividends’ for countries with the right clean energy strategies.
OMFIF: public pension funds at forefront of net-zero transition
The Official Monetary and Financial Institutions Forum’s 2022 Global Public Pensions report reveals that most funds have accelerated their drive towards sustainable finance.
Corah: investors are ‘not winning on climate change’
Panellists at Net Zero Investor’s Annual Conference discussed whether ESG investing is achieving real-world impact on climate change.
Thwing Eastman: ‘reports of ESG’s death greatly exaggerated’
Environmental, social and governance issues still relevant to investors despite recent ‘anti-ESG’ backlash, MSCI’s editorial director asserts.
Birol: 1.5 degrees target ‘is not dead’
The International Energy Agency’s executive director stresses at the UN PRI conference that the Paris Agreement is not impossible to achieve.
COP27: MDBs welcome call to scale up climate funding
Multilateral Development Banks react to the final COP27 text, which called on them to scale up climate financing and reform their “practices and priorities”.
Investor reflections on ‘subdued’ COP27
Investors have welcomed progress on energy security and biodiversity at COP27, despite the subdued mood among participants.
Sustainability chief: ‘Vladimir Putin not a long-term value driver’
Three leading sustainability figures suggest that the US anti-ESG movement is not based on long-term investment decisions, as the ‘energy sector has only overperformed recently due to the war in Ukraine’.
LGPS CIOs: climate change is the ‘biggest systemic risk’ to investors
In view of COP27, four CIOs at LGPS pools discuss the challenges and risks they face when addressing the ‘most important global megatrend’, which is climate change.
COP27 snapshots: NZAM has $21.8trn committed to achieve net zero 2050
Highlights from COP27’s finance day: GFANZ alliances publish targets and members still funding firms connected to deforestation.
Bonham Carter: engagement is a ‘journey’ to net zero
Jupiter’s director of stewardship and corporate responsibility details the asset manager’s approach to engaging with companies to deliver net zero by 2050.
MSCI climate indices will ‘drive change in the real economy’
MSCI has launched a suite of Climate Action Indexes for investors seeking exposure to companies actively supporting a net-zero economy.
AIIB: a ‘moonshot’ mission to net zero
The Asian Infrastructure Investment Bank’s chief economist and lead economist reflect on a once-in-a-generation opportunity for emerging economies to achieve a smooth and fair transition.
Pension funds take Volkswagen to court over climate lobbying
The action in the German courts could have implications for other civil law systems in Europe.
Webb: relaxing DC charge cap ‘wrong way to encourage green investment’
The former pensions minister has instead called for the UK government to provide seed funding to encourage investment in green infrastructure and renewables.
PLSA22: greenwashing fears rising in investment community
Fund managers struggling to decipher ESG regulations, annual conference of UK’s Pensions and Lifetime Savings Association told.
Rachel Elwell: engagement and collaboration ‘key to emission reductions’
CEO of Border to Coast Pensions Partnership tells Net Zero Investor that engagement and collaboration are vital in meeting net-zero targets.
Keller: over 90% of ESG indices ‘not aligned to EU taxonomy’
ESG framework ‘not fit for purpose’, Lombard Odier managing partner tells World Forum.
Investors call on UK government to uphold net-zero ambition
New UK prime minister is under pressure to maintain focus on net zero and climate policy.
‘Dramatic increase’ in stress testing predicted
Survey suggests that climate risk is a significant factor in driving the surge in spending on pension fund stress testing and scenario modelling.
UK proposes extending TCFD reporting to local government pension funds
The advisory board for the Local Government Pension Scheme warned that requirements would be ‘challenging’.
Losses from fossil fuel stranded assets ‘could reach $30.6tn’
MIT research shows the estimated asset loss for investors under four net-zero scenarios depending on the global climate policy adopted.
UK government’s Net Zero Strategy ruled unlawful
The high court has ruled that the government’s Net Zero Strategy is unlawful and will have to be revised to show how targets to reduce emissions will be met.