Portfolio decarbonisation coalition initiative exceeds target

The Portfolio decarbonisation coalition is currently overseeing the decarbonisation of $230bn (€217.5bn) of assets under management from institutional investors, exceeding the initial $100bn (€94.5bn) target set.

The initiative, which was launched by the United Nations Environment Finance Initiative alongside three institutions (AP4, Amundi, Carbon Disclosure Project) in September 2014, commits institutional investors to decarbonise their portfolios in order to cut greenhouse gas emissions.

Six investors (Hermes Investment Management, MN Services, BNP Paribas Investment Partners, Humanis and Caisse des Dépôts, Storebrand) have joined the coalition, that brings members to a number of 23, managing total assets of $2.2trn (€2.1trn).

Saker Nusseibeh, CEO Hermes Investment Management, said : “As CEO of Hermes, it is my responsibility to ensure that people retire well 30 years from now. In just 20 years, if circumstances don’t change we will already be approaching dangerous levels of warming.

“It is crucial, and my responsibility, that we create the right outcomes from our investment decisions – and the right outcomes on a 30-year time horizon are those that mitigate risk, including carbon risk.”

Pierre René Lemas, CEO of CDC, commented : “The Caisse des Dépôts Group has pledged to foster the transition of the real economy towards low carbon models. We have committed to measure, disclose and reduce the carbon footprint of our investments and initiated implementation in 2015.

“In joining the PDC, we are joining a community of like-minded investors that are collaborating to overcome common obstacles and share expertise around individual solutions.”

Jean-Pierre Menanteau, CEO Humanis, said : “Based on its non-profit culture of social and environmental innovation, Humanis is proud to join the Portfolio Decarbonisation Coalition. Humanis insists on the need to focus on targets, instead of means. Therefore in 2015, Humanis sets a yearly 2% CO2 reduction target.”

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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