New York (dpa) - In the fight against global warming, an international initiative by major insurance companies and pension funds aims to invest more than € 2 trillion in carbon emissions by 2050.
This was announced by the "Net Zero Asset Owner Alliance" at the New York UN Climate Summit. The initiator is Allianz, Europe's largest insurer.
He alone has about 800 billion euros in the books, which must be created. There are a number of other institutional investors in the alliance, including the French public pension fund Caisse des Dépots, the Canadian pension insurer CDPQ and the Swiss insurers Zurich and Swiss Re.
Specifically, this means that the big investors now want to influence the companies whose securities they hold, so that they "decarbonise" their business models - so the burden of the planet with greenhouse gases no longer increase.
Allianz CEO Oliver Bäte and colleagues are hoping for role models: "By pledging to change their investment portfolios to net zero greenhouse gas emissions by 2050, investors are raising the bar for other investors, industry associations and (...) the global economy », - stated in the message. Alliance boss Bäte and UN Secretary-General Antonio Guterres wanted to present the initiative together at the climate summit. "Mitigating climate change is the challenge of our time," said Bäte.
Environmental initiatives have been putting pressure on the financial world for years to change their investment policies and exit investment in the oil or coal industry. The alliance had already announced that it would no longer insure new coal-fired power plants.
However, the announcement does not mean that the Munich Group would now restructure its entire facilities. Allianz is one of the largest investors in the world. The Group owns the asset management companies AGI and Pimco, which, apart from their own money, invested more than 1.5 trillion euros in external client funds. As asset managers of this caliber make their investment decisions in consultation with major clients, the announcement does not apply to AGI and Pimco.
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