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Press release: 60% of the world’s largest public pension funds in breach of duties on climate change, new data reveals.
Author: Asset Owners Disclosure Project, Published on: 11 September 2018
- Over 60% of the world’s largest public pension funds have little or no strategy on climate change, which could put them in danger of breaching their legal duties.
- AP4, Fonds de Réserve pour les Retraites (FRR), New York State Common Retirement Fund (NYSCRF), and ABP come top in a new global pensions ranking on climate, as the three largest UK funds lag relative to the rest of Europe.
- European funds are showing leadership; five funds in each of Sweden and the Netherlands achieved a leading rating.
- California and New York house leading US pension funds, in spite of weak national climate regulation.
- Less than 1% of assets of the world’s largest 100 pension funds are invested in low-carbon solutions, and only 10% of assessed pension funds have a policy to exclude coal from their investment portfolio.
Related companies: ABP