Investment consultants questioned over climate change

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  • 05 Mar 2018 12:00 AM
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Investment Consultants Questioned Over Climate Change Backing

Eight out of the world’s top 10 investment consultants or asset managers offering investment advice, including Aon Hewitt and Russell Investments, have not backed a series of recent major climate change initiatives, according to campaign group Preventable Surprises and research group Sustainix, despite the growing importance of the subject to investors. The research examined the signatories of three initiatives — Climate Action 100+, which calls on companies to cut greenhouse gas emissions and improve disclosure and oversight of climate-related risks; the Ceres G20 letter, in which large investors urge politicians to uphold the 2015 Paris climate accord; and the Task Force on Climate-Related Financial Disclosures (TCFD), which is backed by the Financial Stability Board, a body that makes recommendations to the G20. In response investment consultants have said they were taking climate change risk seriously when providing advice to clients and argued that not signing up to those three initiatives did not signal a lack of commitment to the issue.

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