Investment Firms, Banks Back Climate Initiatives
Some 22 US investment firms with about $240 billion in assets under management, led by the California State Teachers’ Retirement System (CalSTRS) and the Oregon State Treasurer’s office, have signed the Climate Declaration, calling upon federal policymakers to address climate change as an economic opportunity.
These financial firms join more than 150 other US businesses, including General Motors, Intel and Nike and more than 100 ski areas, in backing the Ceres-led initiative that asks lawmakers to draft legislation and regulatory initiatives to reduce carbon emissions and incentivize renewable energy development.
In addition to CalSTRS and the Oregon Office of the State Treasurer, Climate Declaration investor signatories include: Boardwalk Capital Management; Boston Common Asset Management; Calvert Asset Management Company; Chrysalix; Domini Social Investments; ESG Integrated Solutions; First Affirmative Financial Network; Friends Fiduciary Corporation; Green Century Capital Management; Leadership Council of the Sisters, Servants of the Immaculate Heart of Mary; Mercy Investment Services; Pax World Management Corp; Portfolio 21 Investments; Sisters of St. Dominic (Caldwell, NJ); The Christopher Reynolds Foundation; The Sustainability Group at Loring, Wolcott and Coolidge; Tri-State Coalition for Responsible Investment; Trillium Asset Management; Walden Asset Management; and Zevin Asset Management.
The announcement comes on the eve of the first Global Investor Forum on Climate Change, sponsored by Ceres’ Investor Network on Climate Risk along with the Asia Investor Group on Climate Change, the EU-based Institutional Investors Group on Climate Change and the Investor Group on Climate Change, which represents Australian and New Zealand investors.
Also this week, the Natural Capital Declaration announced two new signatories and three new supporters: FMO, First Green Bank, TEEB for Business Coalition, Trucost and the Association for Sustainable & Responsible Investment in Asia (ASrIA).
The NCD, a finance-led initiative committing banks, investors and insurers to integrating natural capital considerations in financial products and services, was launched at last summer’s Rio+20 Earth Summit. Last week, the NCD announced the start of a new Roadmap phase, which aims to turn these commitments into reality through a program of work by four working groups, each led by a bank.
The Declaration now has 43 signatories from the finance sector and 19 non-financial stakeholders supporting the initiative.
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