Carbon Tracker reveals investors are not living up to net zero claims
A report from Carbon Tracker reveals that many investors with net zero commitments are doing little to align their portfolios with a net zero future.
The report found over 160 funds which are named for their sustainability/climate credentials yet hold a combined $4.6 billion of investments in 15 of the world’s largest oil and gas companies.
It singles out the Net Zero Asset Managers Initiative (NZAM), which is designed to be a signal to the market that investment managers will invest in line with a 1.5°C pathway.
Many of the largest NZAM members are heavily invested in unaligned oil and gas companies. The report analysed the shareholdings of 25 NZAM members into 15 such companies, and found some - including asset managers Blackrock, Fidelity, and the Capital Group - have significant holdings in oil and gas and actually increased exposure last year.
This is why real transparency is so important. Unfortunately, consumers can’t trust commitments alone.
Future Super screens out the fossil fuel industry, that’s the level of screening we think it takes to be able to say we’re investing for a future free from climate change.
See http://www.futuresuper.com.au for information about what we mean by fossil fuel companies and investments.