Redington commits to net-zero advice; Fidelity targets net zero for workplace pension
Sheth: Our default position will be to deliver investment advice that is aligned with achieving the goals of the Paris Agreement
Redington has announced it will align all default client advice with the goal to reach net-zero carbon emissions by 2050 at the latest, as outlined in the Paris Agreement.
The investment consultant estimated that, as a result of this change, most clients will achieve a 50% reduction in carbon emissions by 2030.
The move sits alongside the firm s broader seven-point climate action plan to integrate sustainability across its entire business, including commitments to reduce and offset its own emissions.
Redington and Fidelity announce net zero pension plans
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Jonathan Stapleton, Professional Pensions
Top investment consultancy and leading asset manager ramp up their support for net zero transition
Redington has announced it will align all default client advice with the goal of reaching net zero emissions by 2050 at the latest, as outlined in the Paris Agreement.
The investment consultant estimated that, as a result of the change most clients will achieve a 50 per cent reduction in their carbon emissions by 2030.
The next United Nations climate summit, COP26 – or to give it its full title, the 26
th Climate Change Conference of the Parties – is due to take place in Glasgow in November.
Postponed from last year due to Covid-19 restrictions, it is being co-hosted by the UK and Italy, and countries are expected to announce new climate targets in advance.
The story
More than 190 countries have signed the Paris climate accord, which aims to limit temperature rises to well below 2 degrees Celsius, and ideally to 1.5 degrees Celsius, compared with 1900 levels.
However, commenting on an interim report from UN Climate Change published on 26 February, the Secretary General described it as a red alert for our planet .
Fidelity International targets net zero emission by 2050
By Jean-Baptiste Andrieux 26
th April 2021 12:38 pm
Fidelity International aims to reach net zero emission by 2050 or before within FutureWise, its default workplace investment strategy for UK-based pension schemes.
The firm has set for itself the goal of cutting emissions by half by 2030, and hopes to reach net zero emission for operational emissions before 2040.
As a member of the Net Zero Asset Managers initiative, Fidelity International is part of a network of asset managers that have pledged to reach zero greenhouse gas emission by 2050. Other participants include among others Legal & General, Aviva Investors, and Royal London.
By Susanna Rust2021-04-26T12:23:00+01:00
BlackRock has launched a pair of equity exchange-traded funds (ETFs) that represent its first products using indices built to comply with the EU Paris-aligned Benchmark (PAB) label requirements.
The iShares S&P 500 Paris Aligned UCITS ETF tracks the S&P 500 Paris Aligned Climate Sustainability Screened Index, while the iShares MSCI World Paris Aligned UCITS ETF tracks the MSCI World Climate Paris Aligned Benchmark Select.
The indices have been designed to align with a 1.5°C scenario and meet the minimum standards of the EU PAB label, which requires an immediate carbon intensity reduction of at least 50% versus the parent universe at inception, followed by a minimum 7% decarbonisation year-on-year reduction.