The Portfolio Decarbonization Coalition reached to 600 billion dollars assets under management (AUM) durign the Paris Climate Talks. As the Paris talks ended with the ambition to limit the temperature rise to 1,5 degree, the Portfolio Decarbonization Coalition exceeded six times its orginial target of 100 billion dollars AUM. The new signatories are big institutional investors: Allianz and ABP.
– More and more companies and states will incorporate climate change considerations – they are going to address physical climate risks, they want to reduce emissions and they have to reflect regulatory needs and developments,“ Mr Oliver Bäte, CEO of Allianz said in the press release.
– We will anticipate these risks and opportunities. Allianz’s climate and decarbonization actions will include the phasing out of coal investments, the use of environmental, social and governance scoring in investment decisions across its portfolio of own investments, and scaling up its investments in renewable energy, he continued.
The Coalition was co-founded by the United Nations Environment Programme Finance Initiative (UNEP FI), the fourth National pension fund of Sweden, AP4, Europe’s largest asset manager Amundi and CDP in September 2014.