ShareAction issues industry guidance to hold asset managers to climate pledges
ShareAction's guidance sets out five expectations for asset managers.
The campaign group launched a new definition of 'responsible investment' last week (4 July), citing the need for a «step change in ambition» from investors to halt further climate breakdown. The manuals released today (10 July) set out standards and expectations for asset managers — the Responsible Investment Standards and Expectations (RISE).
According to ShareAction's new definition, responsible investment should be «a transparent approach, embedded throughout the investment process, that takes the positive and negative impacts on people and planet as seriously as financial risk and return».
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The RISE series is designed to be used along the chain of responsible investing — encouraging asset owners, investment consultants and other stakeholders to engage with their asset managers over the actions which ShareAction asserts they «can and should take in today's investment environment in pursuit of being a truly responsible investor».
Today's release, ‘How asset managers can set interim net zero targets that are fit for purpose', addressed the need for robust emissions goals to drive portfolio companies to decarbonise at the pace and scale required to limit global warming 1.5°C.
ShareAction's guidance sets out the below five expectations for asset managers:
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Commenting on the release of the first in the RISE series, its author Niall Considine, head of investor engagement at ShareAction, said:
«Time is running out for an effective response to the enormous social, environmental and financial risks posed by the
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