Some of the world’s largest investors managing assets worth more than $9tn have committed to investing only in companies with net zero carbon dioxide emissions by 2050 as part of the fight to contain the climate crisis. Legal and General Investment Management, the UK’s largest investor, and UBS Asset Management are among the signatories to a pledge that they will aim for all companies in their portfolios to be decarbonised by 2050 or earlier. The largest investors have significant power to force companies to decarbonise because of their role as shareholders in many of the world’s largest polluters. However, the global investment community at large has faced criticism from campaigners who argue that investment firms are often too focused on shorter-term profitability, rather than actively backing climate action.
Guardian 11th Dec 2020 read more »