BNPP IP signs Montreal Carbon Pledge
BNP Paribas Investment Partners (BNPP IP) has announced that the firm has signed the Montreal Carbon Pledge ahead of the United Nations climate change conference (COP21) which is set to take place in December 2015 in Paris.
The Montreal Carbon Pledge commits investors to measuring and publicly disclosing the carbon footprint of their investment portfolios on an annual basis, in accordance with the Portfolio Decarbonisation Coalition (PDC). The PDC is an environmental programme run by the UN which aims to support asset owners as they work towards reducing their carbon exposure.
The Montreal Carbon Pledge is supported by the Principles for Responsible Investment (PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI). It aims to attract commitment from investment portfolios totalling $3trn (€2.68trn) in time for the COP21.
Philippe Marchessaux, CEO of BNPP IP, declared: “By signing the Montreal Carbon Pledge we are demonstrating our long-term commitment to working towards a low carbon economy. As a responsible investor, we have a key role to play in helping to tackle climate change, and we are already active in this area.
“We have launched specialised funds, including the first low carbon ETF in 2008, we work closely with institutional investors to measure and monitor their carbon footprint, and help them reduce it, while we aim to disclose to our open-ended funds’ investors information about and an assessment of the carbon footprint of their investments.”