World’s largest pension fund GPIF (Government Pension Investment Fund) of Japan is now supporting the Climate Action 100+ Initiative, adding further significant momentum in global growth of the investor-led corporate engagement initiative.
“Climate Action 100+ is honored to welcome GPIF as a Supporter. The risks and the opportunities of climate change call for global partnership and GPIF’s support will be vital to our success,” said Anne Simpson, Investment Director, CalPERS and Climate Action 100+ Steering Committee Chair. The total number of investors involved in the initiative has now surpassed 310, representing over US$32 trillion in assets collectively under management.
“In just the past five months, we’ve seen investors across Asia collectively representing US$959 billion in assets under management join Climate Action 100+. That’s before you even factor in GPIF,” explains Emily Chew, Global Head of ESG Research and Integration, Manulife Asset Management, Chair of the Asia Investor Group on Climate Change and a member of the Climate Action 100+ global Steering Committee.
“While it’s true the ESG (Environmental, Social and Governance, editor’s note) landscape is more mature in some respects across Europe and North America, the progress being made through Climate Action 100+ here in Asia demonstrates this is beginning to change. Asian investors increasingly understand the benefits involved, from contributing to addressing climate change and helping safeguard their own investments in the process.”
Asian investors continue to join the initiative, with six new signatories coming on board since late May, including Nikko Asset Management, China Asset Management Company, Mitsubishi UFJ Trust & Banking Corporation, Fukoku Capital Management, Resona Bank and most recently GPIF. They join existing investors from Japan and asset owners from Taiwan and Indonesia.
GPIF has long been recognised as demonstrating a strong commitment to the ESG agenda. Recently the fund has announced that it will allocate US$10 billion domestically and internationally, to passive funds tracking environmental stock indices .
GPIF joins Climate Action 100+ as a Supporter. Supporters fully endorse the goals and objectives of the initiative, while not undertaking direct engagement with companies.
Climate Action 100+ is a five-year initiative led by investors to engage systemically important greenhouse gas emitters and other companies across the global economy that have significant opportunities to drive the clean energy transition and help achieve the goals of the Paris Agreement. Investors are calling on companies to improve governance on climate change, curb emissions and strengthen climate-related financial disclosures.
Launched in December 2017 at the One Planet Summit, Climate Action 100+ garnered worldwide attention as it was highlighted as one of 12 key global initiatives to tackle climate change.
Investor representatives from AustralianSuper, California Public Employees’ Retirement System (CalPERS), HSBC Global Asset Management, Ircantec and Manulife Asset Management have helped to lead the design and development of Climate Action 100+. The initiative is designed to implement the investor commitment first set out in the Global Investor Statement on Climate Change in the months leading up to the adoption of the historic Paris Agreement in 2015.