(Bloomberg) — An influential coalition of asset owners overseeing a combined $10 trillion is calling for adjustments to a strategy known as ESG engagement in an effort to reduce carbon emissions more effectively.
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The Net-Zero Asset Owner Alliance, which counts Aviva Plc, California Public Employees’ Retirement System and Swiss Re AG among its members, said Thursday that investors should move beyond simply engaging with companies that pollute and instead use their influence to target broader structural hurdles to decarbonization.
The report exposes the limits of a strategy that’s been widely embraced by asset managers pursuing environmental, social and governance goals. As opposed to avoiding bad ESG companies, investors often engage with them through dialogue and shareholder votes. The approach hasn’t helped lower carbon emissions as they continue to soar. Scientists now estimate that the Earth’s temperature is on track to rise double the critical…
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2022-04-06 22:01:02
