Ambitious ‘net-zero’ carbon reduction goals are the latest in the evolution of asset owners’ engagement with climate change
More and more asset owners are declaring net-zero goals. Launched in September 2019 with 12 founding members, at the time of writing the UN-convened Net-Zero Asset Owner Alliance (NZAOA) counted 33 members, but there are further investors with net-zero goals that are, for now at least, operating outside the framework of the NZAOA. It is also clear that other pension funds are, or will be, looking to set a net-zero target. Asset managers are also increasingly committing to net-zero, and in December 2020 announced a network of their own, the Net Zero Asset Managers Initiative.
AP3 – Swedish national pensions buffer fund
AP3 has appointed
ö
rklund as its new head of alternative investments. Björklund is being promoted to the role from her current position as portfolio manager for international real estate and infrastructure at the pension fund. Björklund will replace
Bengt Hellstr
ö
m, who is stepping down from the managerial role after 20 years in the position. However, AP3 said Hellström would continue to work within the organisation until further notice.
Björklund came to AP3 in 2018 having previously worked for one of Sweden’s largest pensions providers AMF as portfolio manager within alternative investments – primarily working with infrastructure, according to AP3. The Stockholm-based buffer fund said she would take up her new role on 1 February.
How to turn climate ambitions into reality: Q&A with Nigel Topping
2020 was supposed to be a landmark year for taking stock on climate and biodiversity commitments and determining how societies move forward to address the world’s most pressing problems. Instead, the COVID-19 pandemic intervened, leading to the postponement or cancellation of many events, including the 26th United Nations climate conference (COP26).
But while COP26’s delay may have stalled government to government negotiations at national levels, it didn’t prevent the parties from advancing efforts to address climate change, including the push to connect government targets with initiatives by sub-national governments, cities, companies, and civil society groups.
2021: The decarbonisation race is on eco-business.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eco-business.com Daily Mail and Mail on Sunday newspapers.
By Susanna Rust2020-12-18T11:01:00+00:00
Legal & General Investment Management (LGIM) has launched a climate transition index fund for defined benefit and defined contribution investors.
The fund is based on FTSE Russell’s FTSE Global Equity Index Series, with constituents adjusted based on their fossil fuel reserves, carbon emissions and green revenues.
The fund also takes into account Transition Pathway Initiative analysis of how the world’s largest and most carbon intensive public companies are managing the climate transition. It excludes fossil fuels, tobacco, controversial weapons and UN Global Compact violators.
LGIM said the aim of the index fund is “to provide sophisticated and diversified exposure to companies that are more aligned to the Paris Agreement and the benefits of the climate transition, while going beyond a narrow focus on carbon emissions and fossil fuel”.