ShareAction: Fund managers miss mark on fossil fuels
In a damning report unveiled this week, non-profit organisation ShareAction exposed that a mere 10 out of 77 asset managers worldwide have taken steps to limit investments in the most damaging fossil fuels across all their investment funds. The report, which delved into the practices of major global asset managers, urged the firms to urgently confront the challenges of climate change and biodiversity loss by reassessing capital allocation strategies and engaging with the companies they invest in.
ESG policies point to growing geographical split
Responsible investment policies at two thirds of the world’s major asset managers, representing some 60 trillion dollars in assets under management, fall short of their objectives, leaving the firms with “serious gaps” in their practices, according to a report published by British NGO Shareaction.
Investment sector starts to address biodiversity loss
Asset managers are increasingly turning their attention to addressing biodiversity loss, but moving beyond just exclusion and actively making investments that improve the landscape will be an uphill battle.
It has been a year since a damning report from ShareAction claimed that asset managers are blind to biodiversity loss, which pointed out that none of 75 of the world’s largest asset managers had a dedicated policy on the matter.