By Rachel Fixsen2020-12-23T10:46:00+00:00
Pension provider calculated that median of IPCC carbon pricing proposals could halve value of equities
The head of Sweden’s largest pension fund, Alecta, has presented an eye-catching calculation to flag up the need for clarity about the real cost of carbon emissions, saying current pricing proposals would wipe out half the value of the fund’s more than SEK300bn (€29bn) of equities.
Though researchers disagreed on the price of CO
2 emissions needed to reach the 1.5°C target in the Paris Agreement on climate change, said Magnus Billing, Alecta’s chief executive officer, the pension fund calculated the median of the various proposals in the Intergovernmental Panel on Climate Change (IPCC) report at $870/tonne.
Smart money? Pension funds taking more chances on renewable energy
Daniel Martins
Tuesday, December 15th 2020, 6:30 am - Like other pension plans, the Canada Pension Plan is starting to boost its renewables holdings, but critics say many of its first investments are essentially greenwashing.
Whether the world s energy future lies in fossil fuels or renewables is still to be determined – but increasingly, the smart money seems to think it s the latter that will win out.
Last month, ExxonMobil was dropped from the Dow Jones Industrial Index after more than a century – only to find itself surpassed in market value by a renewable energy company, NextEra.
6 Ways World Has Progressed Since Paris Climate Agreement cleantechnica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cleantechnica.com Daily Mail and Mail on Sunday newspapers.
Asset Mangers bind to commit $9 trillion in Net Zero Carbon Pledge
The investors who signed net zero carbon pledge have committed to prioritizing the achievement of real economy emissions reductions. PUBLISHED BY
Thirty leading asset managers of the world have committed to oversee $9 trillion in investments to achieve net-zero carbon emission portfolio by 2050.
The group includes Fidelity International, Legal & General Investment Management, Schroders, UBS Asset Management, M&G, Wellington Management and DWS. This decision is sure to impact many businesses as the portfolio managers will be looking at companies that are committed to lessening their carbon footprints.
The investors also include Japan’s Asset Management One and France’s Axa Investment Managers. The group has come forward to form the Net Zero Asset Managers initiative to mark the five-year anniversary of the Paris Agreement.
Net Zero Nature brings together global experts, business leaders, NGO’s and innovators to explore why protecting and restoring nature is fundamental to global economic prosperity, investigate the transformative changes businesses must make now to avoid extinction, and consider best practices and latest developments.
Register now to secure your place for a unique day of learning, leadership and practical insight.
Date: 27 May 2021