article thumbnail

Dutch Pension Giant PFZW Divests 98% of Oil and Gas Companies over Lack of Climate Action

ESG Today

In a blog post announcing the divestments, PFZW described the remaining companies as “fully committed to the transition from fossil energy to renewable energy or are currently already producing mainly energy with a low carbon footprint.” Overall, PFZW exited its investments in 310 companies, selling €2.8 billion of securities.

article thumbnail

Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement

GreenBiz

Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. As with the financial divestment movement, there is a valid debate about whether engagement with high-carbon firms that are working to reduce their emissions is more effective than simply severing ties. Michael Holder. Mon, 11/30/2020 - 01:00.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Divestment Doesn’t Close Door on Engagement

Chris Hall

An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If Multi-year effort .

article thumbnail

The biggest carbon losers

Corporate Knights

Yet the pace and scale of their reductions is in the realm of what every company and country must do by 2030 to keep the faith of the Paris Agreement. But 40% of the reductions came from divesting, or selling off, dirty assets, which from the atmosphere’s perspective is akin to rearranging deck chairs on the Titanic.

article thumbnail

PGGM to Engage with Energy Customers 

Chris Hall

Move follows decision by Dutch pension fund PFZW to divest from nearly all of its fossil fuel holdings. PGGM has announced it would shift its engagement focus from the supply to the demand-side of the energy sector, following a decision from its largest client PFZW to divest from most of its fossil fuel holdings.

article thumbnail

AXA IM to Vote Against Companies Lobbying Against Climate Goals

ESG Today

Global asset manager AXA Investment Managers (AXA IM) announced today that it has updated its corporate governance & voting policy with more stringent ESG expectations for companies, including a pledge to target high emissions companies lobbying against the goals of the Paris Agreement.

article thumbnail

Shell U-turn Prompts Closer Investor Scrutiny

Chris Hall

trillion) in AUM co-filed a climate resolution at Shell, calling for the European oil and gas major to align its medium-term Scope 1 to 3 decarbonisation targets with the Paris Agreement. Earlier this month, 27 institutional investors with €4 trillion (US$4.6 Hold or fold? Nest also views climate change as a systemic risk.