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They can also serve as safeguards to verify that the reduction of emissions in their portfolios corresponds to actual emissions reductions in the real world, rather than being achieved solely through divestment from high-emitting assets. We strongly encourage all stakeholders to take part in the consultation.”
The resources included deep-dive guidelines for seven sectors – including asset owners, asset managers and banks; high-level guidance for 30 sectors of the globaleconomy; and advice on how to undertake a transition planning cycle. It is absolutely critical that these are being taken together.”
The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2 trillion in assets, have committed to divest. Student divestment movements have succeeded in removing fossil fuels from a number of universities in 2021.
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