European pension funds call on co's to adopt positions which are in line with goals of the Paris Agreement

Author: Investment & Pensions Europe, Published on: 30 October 2018

"Pension funds challenge European companies on climate lobbying", 29 Oct 2018

Two major European pension funds have challenged large companies over lobbying positions that are inconsistent with the goals of the Paris climate deal.

Sweden’s SEK608bn (€62bn) AP7 and the £2.3bn (€2.6bn) Church of England Pensions Board (CEPB) have today written to the chairs of 55 European companies to push them to review the lobbying practices being adopted by their trade associations and lobbying organisations.

“If these lobbying positions are inconsistent with the goals of the Paris Agreement, we would encourage you to ensure they adopt positions which are in line with these goals,” the letters continued...

Earlier this year investors used the occasion of a G7 summit to urge governments to do much more to both limit global warming and ensure the world was prepared for the effects of climate change. 

The 55 companies that AP7 and the Church of England Pensions Board have written to were selected due to their high greenhouse gas emissions and significant role in energy-intensive sectors. They include companies such as Fiat Chrysler, Rio Tinto, and Rolls-Royce. [also refers to Legal & General, Robeco]

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Related companies: AP7 Fiat Chrysler Legal & General Investment Management Rio Tinto Rolls-Royce plc