Pension Funds, Insurance Companies Pledge Carbon-Neutral Investments
23 September 2019 - 2:29PM
Dow Jones News
By Dieter Holger
A coalition of some of the world's largest pension funds and
insurance companies said on Monday they would achieve
carbon-neutral investment portfolios by 2050 in an effort to limit
global warming to no more than 1.5 degrees Celcius above
preindustrial levels.
The group of 12 investors, called the Net-Zero Asset Owner
Alliance, represents around $2.4 trillion in assets and includes
Allianz SE (ALV.XE), Zurich Insurance Group AG (ZURN.EB) and
California Public Employees' Retirement System.
Investors will "immediately start to engage" with companies in
their portfolios to encourage them to lower their emissions and
meet the goals of the Paris Agreement.
The United Nations and the Principles for Responsible
Investment, the largest group of investors committed to sustainable
finance, organized the initiative.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
September 23, 2019 08:14 ET (12:14 GMT)
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