Corporate Moves
Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Tag: Paris agreement
Research
Economic Damage From Climate Change Could Dent Global Income by 19% Over 25 Years
Study also finds that the costs of climate change damage is significantly more than the cost to limit global warming.
Why Beaten-Up Oil Stocks Have a Good Future
Renewables won’t take over for a while, the world’s population is expanding, and emerging economies are growing.
Pensions
Norway’s SWF: Stop Talking, Take Action on Climate Transition
The $1.4T Norges Bank Investment Management has increased its climate expectations for more than 9,000 companies in its portfolio.
Risk
European Central Bank Warns Green Transition Needs to Quicken
The bank’s second climate stress test showed ‘there is a clear need for speed’ to meet the goals of the Paris agreement.
Asset Allocation
NYC Pension Funds Have Reduced Emissions by up to 27% Since 2019
Three of the city’s five funds are looking to reach net zero greenhouse gas emissions by 2040.
Pensions
Oregon Treasurer Pledges to Decarbonize State Pension Fund By 2050
Tobias Read says he’ll have a comprehensive plan to meet Paris Agreement goals by early 2024.
Newsmakers
A Coalition of Republican Attorneys General Targets Banks for Net-Zero Alliance Membership
AGs sent civil investigative demands to the six largest banks in the country to explore claims that the banks’ ESG pledges have harmed the energy sector.
Risk
Norway Targets Net Zero for Sovereign Wealth Fund by 2050
The $1.2 trillion fund aims to create a system to measure its climate risk exposure by 2025.
Risk
Australia’s HESTA Accused of Greenwashing
The Environmental Defenders Office says HESTA’s investments in oil and gas companies could be in breach of the law.
Risk
CalSTRS Votes on Record Number of Shareholder Proposals
The $315 billion pension fund has voted on more than 1,000 shareholder proposals during the 2022 proxy season, many of them climate-related.
Asset Allocation
Ceres Launches Program to Help Food Sector Reach Paris Agreement Goals
The group says the global food system accounts for one-third of the world’s emissions, and it wants institutional investors’ help to engage the highest polluters.
Pensions
UK’s Largest Private Pension Fund Commits to Net-Zero by 2050
The $93.9 billion USS said it hopes to reach its goal even sooner than the Paris Agreement target.
Asset Management Culture
University of Pennsylvania Targets Net-Zero by 2050
The $14.9 billion endowment becomes the latest institutional investor to target the goals of the Paris Agreement.
Here’s How Institutional Investors Can Meet Net-Zero Goals
A new guide is intended to help investors create a net-zero investment strategy.