Aviva Investors threatens to divest from top carbon emitters over climate inaction theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Aviva Investors Weighs Ditching Holdings in Biggest Carbon Emitters for Climate Inaction
LONDON – Aviva Investors said on Monday it could ditch its stock and bond holdings in 30 of the world’s biggest corporate emitters of carbon if their boards failed to take sufficient action over climate change.
The move comes as asset managers including BlackRock and Legal & General Investment Management look to ratchet up the pressure on companies to form a plan to transition to a lower-carbon economy, ahead of the next round of global climate talks.
The British asset manager, part of insurer Aviva and which manages 355 billion pounds in assets, said its Climate Engagement Escalation Programme would target companies in sectors including oil and gas, mining and utilities.
By Jon Hay
29 Jan 2021
The power of Science-Based Targets as a sustainable finance tool was highlighted this week by research which showed for the first time that companies with SBTs are succeeding in cutting greenhouse gas emissions much faster than the wider economy. Many are even ahead of their own targets.
A study by the Science-Based Targets Initiative of 338 companies that have set SBTs, including Enel, Mastercard and Tesco, found that on average they have cut their emissions by 25% since 2015, saving 302m tonnes of CO
2 equivalent about 8% of total EU emissions.During the same
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The Climate Group
Earlier this week, we shared insights into how at least 38 RE100 members were accounting for 100% of their US electricity needs with renewables by the end of 2019. Our feature considered the innovative projects and mechanisms which played a role in their success, and the barriers and challenges they faced in getting there.
These 38 members hail from a diverse cross-section of industries , and together represent a total of over 12 TWh of consumption – more than the electricity used by the entire state of Maine in 2019.
Some of them have likewise achieved their overall RE100 commitment of procuring 100% renewable electricity for their worldwide operations by the end of 2019; others are still working toward their global RE100 pledge, with their success in the US representing an important milestone.