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The guidelines set out MAS’ supervisory expectations for the financial institutions to have a sound transition planning process, enabling effective climate change mitigation and adaptation measures by their customers and portfolio companies to manage the transition to a net zero economy, as well as the physical effects of climate change.
trillion investment portfolio through tilting its portfolio toward climate-positive investments and increasing its stewardship efforts with carbon-intensive investee companies. It has pledged to decarbonise its £0.3
UK pension schemes will be required to demonstrate alignment with the Paris Agreement from October, but will also be given greater flexibility to make climate-positive investments as well as new stewardship guidance, Work and Pensions Secretary Therese Coffey confirmed today. “We
Academic evidence suggests there are limits to both the power of engagement and the threat of divestment, which is most effective when it serves to shift the perspective of directors to shared medium- and long-term interests. C future, Gosling acknowledges there is scope for climate-positive action by asset owners and managers.
California required SCE and other investorowned utilities to divest the majority of their generation assets beginning in the late 1990s in order to promote competitive energy pricing. Among other things, SCE divested from and terminated all contracts with coal-burning resources and, since 2015, has had no coal in its specified portfolio.
This appears to be growing, with increasing numbers in the latter camp moving further in the opposite direction, favouring divestment over engagement – at least as far as the highest emitters are concerned.
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