{"id":136058,"date":"2024-12-16T07:54:47","date_gmt":"2024-12-16T05:54:47","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/report-major-asset-managers-linked-to-7-3bn-fossil-fuel-bonds\/"},"modified":"2024-12-16T07:54:47","modified_gmt":"2024-12-16T05:54:47","slug":"report-major-asset-managers-linked-to-7-3bn-fossil-fuel-bonds","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/report-major-asset-managers-linked-to-7-3bn-fossil-fuel-bonds\/","title":{"rendered":"Report: Major asset managers linked to $7.3bn fossil fuel bonds"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/136058\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>New research has revealed that 25 of the largest European and US asset managers have invested more than $7.3bn in bonds issued by companies developing fossil fuel projects between January 2023 and June 2024.<\/p>\n<p>Reclaim Finance argues that these investments contradict the long-term interests of asset owners. This is according to a report by Reclaim Finance, which assessed both the investment portfolios and voting practices of these asset managers. The analysis highlights their role in financing companies expanding oil and gas activities, despite growing climate risks and the International Energy Agency\u2019s (IEA) warning that achieving the 1.5C climate target requires halting all new fossil fuel production.<\/p>\n<p>The report found that leading firms such as BlackRock, Vanguard, PIMCO, Amundi and UBS Asset Management were among those providing fresh capital to fossil fuel developers through bond purchases.<\/p>\n<p>Reclaim Finance argues that these investments contradict the long-term interests of asset owners, including pension funds, which typically seek to safeguard returns while mitigating systemic climate risks. Reclaim Finance\u2019s sustainable investment campaigner Agathe Masson said: \u201cAsset managers are entrusted with asset owners\u2019 money, but they fail to follow through on managing climate risks.<\/p>\n<p>\u201cAsset owners should look at how their money is being invested and challenge asset managers\u2019 overall practices. Allocating new assets to fossil fuel developers will exacerbate climate change and increase climate risks for generations to come, which is in total contradiction with pension funds and other asset owners\u2019 long-term horizon.\u201d<\/p>\n<p>Voting records at Annual General Meetings (AGMs) further illustrate the support extended by these asset managers to fossil fuel companies. According to the report, 79% of votes cast by the asset managers were in favour of resolutions approving the actions of boards of directors, including re-electing directors at some of the largest fossil fuel developers. In contrast, Union Investment opposed 80% of such resolutions, standing out as an exception in its voting practices.<\/p>\n<p>The analysis also highlighted a recent policy shift by BNP Paribas Asset Management, which announced it would cease investing in bonds issued by oil and gas exploration and production companies on the primary market starting November 2024. This move represents one of the few positive steps taken by the asset managers assessed.<\/p>\n<p>The findings raise concerns about the alignment of asset managers\u2019 practices with climate science and their oversight of long-term risks. Despite being tasked with managing investments in the best interest of their clients, including pension funds and savers, most of the assessed asset managers continue to support new fossil fuel development, undermining global efforts to limit warming to 1.5C. Reclaim Finance has called on asset owners to engage with their asset managers to demand better stewardship practices or to withhold new mandates from those that support fossil fuel expansion.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.edie.net\/report-major-asset-managers-linked-to-7-3bn-fossil-fuel-bonds\/\">edie.net <\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/environmental-news-en\/xx-2\/\">Report: Major asset managers linked to $7.3bn fossil fuel bonds<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[575,17325,17326,17327],"class_list":["post-136058","post","type-post","status-publish","format-standard","hentry","category-news","tag-environmental-news-en","tag-fossil-fuel-bonds","tag-linked-to-7-3bn","tag-major-asset-managers"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/136058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=136058"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/136058\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=136058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=136058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=136058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}