Aviva Investors walks back ‘watch list’ pledge to ditch least green investments

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Aviva Investors hole to sell stocks in companies that can’t meet their carbon emissions to access the trend of investment managers to water green liabilities.

London-based investment house, which controls 238 billion pounds of assets, proclaim In 2021, it was 30 of the largest utility, mining and gas and gas companies, as part of the so-called involvement program.

At that time, it was said that “faithful to full deviation” of those who failed to meet their expectations around green actions, including the demand for “1.5C alignment”.

Companies were required to set targets for their emissions to reduce levels that would keep global warming below 1.5c lower than prepaid level. The chart is a lower target in the 2015 UN Climate Climate Agreement.

The guarantee of complaints was the most ambitious efforts of carbon intensive companies in the asset management industry to receive their greenhouse gas emissions. The company was due to investments in short companies in short companies within three years.

But four years later, the investor, the division of Aviva insurance company, said that it has transformed the involvement program. It told financial times, instead, focusing on dealing with “wide range of critical sectors”, such as aviation, transport, construction materials and industrial. “

The return came after the Russian war on Ukraine drove the price of the shares of many carbon intensive companies. Investment has also been intensive decoration against the use of environmental, social and management standards.

Aviva said that her beliefs in climate science and “long-term, investment implementation” are meaningless to have the potential for global warming.

But it added that. “After defining the escalation program of our climate involvement in 2021, the market has developed significantly.” The company reports that “very different macro font” has emerged.

“Concerns about energy security and economic recovery have arisen, which, in turn, had an impact on the regulatory environment and the trajectory of national dismissal programs,” added it.

The company did not reveal whether it was completely deviated from the companies that he laid on the preliminary views list.

However, it is said that in some cases where the company was not happy with the progress, it decided to “redistribute capital”.

It was changed to the capital to the companies that they thought it was better to support the green passage and the leader was the leader.

In the decade, the asset leaders have revealed the risks of climate change in investment portfolios.

In 2020, Larry Finc, Cabinet, CEO of Blacker, said in 2020. “Climate risk is the risk of investment.”

But there have been many assets managers in the last few years Dragged For groups, push companies to climate operations, reduce their support for green resolutions during meetings and reduce staff levels in central functions.

Robert Noyes, a group coordinator of the British Divest, a group that has long oppressed the asset managers with climate, criticized Aviva’s traffic. He called it “very disappointing news from the alleged leader in the climate.”

“Aviva is very close to losing its crown without following the companies avoiding energy passage, which says Noyes.

The company was frightened by the “Political Zeitgeist”, “he added.

2022 According to the annual meetings, according to asset managers, Aviva investors, who voted in 2022. For annual meetings.

Noyes says that asset leaders have “massive potential” to remove the economy “expensive, risky and unstable fossil fuel” and “purely accessible sources of cleaning energy”.

“Customers of the asset owner must demand that Aviva behind the backs of this passage,” he said.