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ESG roundup: Beware a ‘diesel moment’ for chemical sector
Author: Susanna Rust, International Publishers Limited (UK), Published on: 6 October 2017
A resolution passed by the European Parliament states that pension funds should commit to divesting from fossil fuels. The relevant passage of the resolution... states that the European Parliament, "calls on governments and public and private financial institutions, including banks, pension funds and insurance firms, to make an ambitious commitment to aligning lending and investment practices with the global average temperature target of well below 2°C, in line with Article 2(1)(c) of the Paris Agreement, and divesting from fossil fuels, including by phasing out export credits for fossil fuel investments; calls for specific public guarantees to promote green investment and labels and offer fiscal advantages for green investment funds and the issuing of green bonds.”
... Elo Mutual Pension Insurance Company has become the first Finnish member of the Institutional Investors Group on Climate Change (IIGCC)... [with] 21.8bn euro of assets under management.
[Refers to: Aberdeen and Friends Life, Aviva, BHP Billiton, British American Tobacco, EOG Resources, Rio Tinto, Royal Dutch Shell, Rio Tinto, Schroders]