Thirty of the world’s largest asset owners, with portfolios worth a combined $5tn (£3.8tn), have committed to cutting the carbon emissions linked to companies they invest in by up to 29% within the next four years.
Members of the UN-backed Net-Zero Asset Owner Alliance – which includes Aviva, the Church of England and the $400bn US fund CalPERS – will each set decarbonisation targets for 2025 as part of wider efforts to align their portfolios with the Paris climate goals and achieve net-zero emissions by 2050.
Former Bank of England governor Mark Carney has said banks should link executive pay to climate risk management, as part of efforts to align the finance industry with Paris climate goals.
Speaking at the UN Environment Programme Finance Initiative roundtable on Tuesday, the former central bank boss said lenders should – at the very least – be transparent over whether or not pay is being tied to climate targets.
Read UNEP FI Head Eric Usher in the 2018 Report of the Arab Forum for Environment and Development writing about ‘Mobilizing Finance to Achieve Sustainable Development Goals: UNEP Finance Initiative’s Perspective’. Download the report here.
Responsible investing is widely understood as the integration of environmental, social and governance (ESG) factors into investment processes and decision-making. ESG factors cover a wide spectrum of issues that traditionally are not part of financial analysis, yet may have financial relevance. This might include how corporations respond to climate change, how good they are with…
UNEP FI Head, Eric Usher writes about how the Positive Impact Finance Initiative is working with financial institutions to close the Sustainable Development Goals’ funding gap by generating much-needed private sector finance in the UN Association UK (UNA-UK) publication “SDGs: Delivering Change”. Read the article.
Ahead of the Sustainable Investment Forum Europe, Climate Action talked to Eric Usher, Head of UNEP Finance Initiative about the future of financial markets in the light of sustainability. Eric will deliver the opening remarks of the Sustainable Investment Forum Europe, taking place in Paris 13th of March. Read the interview here. Find out more…