FILE PHOTO: A banner sits on a fence, set up by Extinction Rebellion protesters, at Banks Group's open-cast coal mine in Bradley, County Durham, Britain February 26, 2020. REUTERS/Scott Heppell
The $1 trillion fund this week also evicted four oil firms for “unacceptable” emissions, putting any laggards in sectors including cement and steel on notice. “You’re never going to get a perfect metric for any of this stuff: different asset owners and different asset managers are going to be doing it differently,” Mark Lewis at BNP Paribas Asset Management said.
DNB Asset Management said it had already moved to reflect the tighter rules. So did Norway’s Storebrand Asset Management, although irrespective of NBIM’s move. “It was important for us to implement stricter criteria within climate mitigation as part of the climate strategy and also because NBIM is seen as best practice for manyinstitutional investors in Norway,” Janicke Scheele, DNB’s head of responsible investments, said.
“Up until now, a vast majority of those institutions who divested adopted the criteria of the portion of revenues generated from coal and in most cases ... 30% was the threshold for divestment,” he said.
good bit of advice for a certain uk prime minister as well 😁
That's Punny ;)
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