Roadmap to CO2 neutrality: exclude or engage?

With the upcoming COP26 Climate Change Conference in Glasgow, the pressure on pension funds to green their investment portfolios increases. At the same time, the debate on fossil investments is intensifying. But what is the best roadmap: exclusion or engagement? Pension fund PME chooses option 1, while asset manager PGIM explicitly favours option 2. 

PME: disinvestment logical