Tag: PGGM
PGGM, LGIM and Aviva Investors among founding members of Asia Transition Platform PGGM, LGIM and Aviva Investors among founding members of Asia Transition Platform PGGM, LGIM and Aviva Investors among founding members of Asia Transition Platform
Investor heavyweights including Legal & General Investment Management, Dutch pension fund PGGM and Aviva Investors are collaborating on an engagement initiative targeting coal lenders and energy firms in Asia.
The Asia Transition Platform will engage with some 50 Asia-based firms over the next three years, with an initial focus on carbon risks at the biggest coal financiers and coal-exposed energy firms in the region. Only China’s state-owned utilities Huaneng and Huadian have been identified as engagement targets.
Other founding members of the new initiative are BMO Global Asset Management, Fidelity International and LAPFF, the representative body of UK-based local authority pension funds.
The investors want the Asian banks to commit to stop “financing fossil fuel expansion and related infrastructure”. The energy firms will be asked to explain how they will align with Paris Agreement targets.
Andres van der Linden, Responsible Investment A…