• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Investors with $4 trln assets aim to tackle Asian firms on climate change goals

September 29, 2021 by David Barret Leave a Comment

September 29, 2021

MELBOURNE (Reuters) – A group of six investors with a combined $4 trillion of assets under management, including Fidelity International, said on Wednesday it aims to step up engagement with big Asian companies like banks and energy producers to ensure they have a road map to meet climate change targets.

Initial engagement will focus on carbon risk and coal at banks and coal-exposed power companies, the group of investors, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.

The move comes as investors become more active in the field of environmental, social and corporate (ESG) governance, helping to shape firms’ climate commitments to better manage that risk for their clients. ESG-related steps they have taken include backing activist shareholder resolutions and voting on board members and remuneration.

At Royal Dutch Shell (RDSa.L)’s annual shareholder meeting in May, nearly a third of shareholders backed a resolution filed by an activist group, but rejected by the board, that wants the company to set short- and medium-term targets to cut absolute emissions.

The six investors include BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, Britain-based Local Authority Pension Fund Forum (LAPFF), Aviva Investors and Legal & General Investment Management.

“Over the past year we have seen encouraging developments in sustainability-related business practices and policies, such as a raft of net zero announcements,” Mirza Baig, global head of ESG investments at Aviva Investors, said in the statement.

“In reality, there is still a stark mismatch between where we are today and what is required to ensure that the objectives of the Paris Agreement (on climate change goals) are met,” he said. “There is a huge opportunity for Asian companies to take the lead in tackling the climate emergency.”

The group has already begun engagement with companies including China power firms Huaneng and Huadian. Huaneng and Huadian did not immediately respond to requests for comment.

The investor group will encourage companies such as banks to commit to concrete actions like exiting from financing the most carbon-intensive fossil fuels, and stopping financing fossil-fuel expansion and related infrastructure.

Measures would also include encouraging Asian power utilities to set out plans to bring their businesses in line with Paris Agreement targets.

(Reporting by Melanie Burton in Melbourne and China team; Editing by Kenneth Maxwell)

Source Link Investors with $4 trln assets aim to tackle Asian firms on climate change goals

David Barret
David Barret

Related posts:

  1. Taliban sources say last Afghan holdout region has fallen
  2. Tennis – Alcaraz upsets Tsitsipas to reach U.S. Open fourth round
  3. Maersk CEO sees no sign of freight market easing this year
  4. Facebook rolls out new messaging, business tools for brands

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Are Space-Made Medicines The Future? Find Out More In Issue 38 Of CURIOUS – Out Now
  • An Alien-Like Fish With A See-Through Head And Green Eyes Lurks In The Ocean’s Dark Depths
  • Africa Wants To Change Misleading World Map, The “Wow!” Signal Was Likely From An Extraterrestrial Source, And Much More This Week
  • A “Good Death”: How Do Doctors Want To Die?
  • People Are Throwing Baby Puffins Off Cliffs In Iceland Again – But Why?
  • Yet Another Ancient Human Skull Turns Out To Be Denisovan
  • Gen Z Might Not Be On Course For A Midlife Crisis – Good News, Right? Wrong
  • Glowing Plants, Punk Ankylosaur, And Has The Wow! Signal Been Solved?
  • Pulsar Fleeing A Supernova Spotted Where Neither Of Them Should Be
  • 20 Years After Hurricane Katrina: Is It Time For A New Approach To Hurricane Classification?
  • Dog Named Scribble Replicates Quantum Factorization Records – So We Tried It Too
  • How Old Is The Solar System? (And How Can We Tell?)
  • Next Week, A Record-Breaking Over 7 Billion People Will See The Total Lunar Eclipse
  • The Goblin Shark Has The Fastest Jaws In The Ocean, Firing Like A Slingshot At Speeds Of 3.1-Meters-Per-Second
  • We Thought Geological Boundaries Were Random. Now, A New Study Has Identified Hidden Patterns
  • Do Fish Sleep?
  • The Biblical Flood Myth That Inspired Noah’s Ark Had A Sinister Twist
  • Massive Review Of 19 Autism Therapies Finds No Strong Evidence And Lack Of Safety Data
  • Giant City-Swallowing Cracks In Earth’s Surface Are A “New Geo-Hydrological Hazard”
  • Three Incredible Telescopes Looked At The Butterfly Nebula To Learn Where Earth Came From
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version