The Portfolio Decarbonization Coalition (PDC) has reached 230 billion dollars assets under management before the Paris COP21 meeting. The initial target was 100 billion dollars, so it shows a dramatic increase in the target.
The new members include for example Hermes Investment Management in the UK, MN Services in Netherlands, BNP Paribas Investment Partners and Caisse des Depots in France.
– As one of the founding members of the Portfolio Decarbonization Coalition, Amundi is honored to see the Coalition reach and exceed the US 100 billion dollars target. It sends a signal to the markets that asset owners are tackling climate change related risks on a large scale. Amundi will continue to actively support the Coalition and investors by providing innovative investment solutions and affirming its role as a corporate citizen, said Mr. Yves Perrier, CEO of Amundi in the PDC´s press release.
According to Mr Frederic Samama, Amundi Deputy Global Head of Institutional & Sovereign Clients, this autumn has been very positive towards the low carbon thinking.
– We have never seen such a movement towards portfolio decarbonization as now before the Paris COP21. And there might be the possibility that the target will even grow from this during the climate talks, he says.
– Many asset owners have realised that this is a question of risk management of climate change and economic decisions. And we in Amundi have been pleased to help the financial markets to hedge the climate change risk as we introduced the first low carbon products this year, he continued.
The Portfolio Decarbonization Coalition is a multi-stakeholder initiative that will drive greenhousegas emissions reductions by decarbonization of portfolios. The coalition was founded by UNPE FI, Amundi, AP4 and CDP in September 2014.
– It is cruisial, and my responsibility, that we create the right outcomes from our investment decisions – and the right outcomes on a 30-year time horizon are those that mitigate risk, including carbon risk, said Saker Nusseibeh, the CEO of Hermes Investment Management in the release.
– In line with our duty to our long term customers and our 20 year history of sustainable investments, we are proud to join the PDC. It is a natural step for us to join a community of peers to share learning and inspire the business on lowering carbon risk and creating value to investors, said Odd Arild Grefstad, CEO of Storebrand.
– The PDC offers us a valuable platform of like-minded parties with whom we can collaborate to fulfill our clients climate action agenda, said Rene van de Kieft, CEO MN Services in the Netherlands.
Portfolio Decarbonization Coalition (PDC) members include A Capital, Amundi,AP4, Australian Ethical Investment, Church of Sweden, Environment Agency Pension Fund, ERAFP, Fonds de Reserves des Retraites, KLP, Local Government Super, Mandatum, Mirova, Point Capital Management, Robeco SAM, Sonen capital, Storebrand, Toronto Atmospheric Fund, University of Sydney, Hermes Investment Managment, BNP Paribas Investment Partners, CDC, Storebrand, MN Services in the Netherlands, Humanis.
Amundi is the European leader in Asset Management industry with AUM more than 950 billion euros. The company is known for its product performance and transparency, quality of client relationships based on long-term advisory approach, efficiency and commitment to sustainable development and socially responsible investment policies.