Climate change worries are increasingly impacting investment mandates. By the end of this year (despite pushback from passive investors), 25% of global assets under management are expected to be covered by restrictions on coal. European asset managers have increasingly applied blanket thermal coal investment exclusions to their portfolios over the past two years (alongside broader and tighter ESG requirements). This went unnoticed at first in several Dutch funds. Then it spread to France.
The Paris Agreement on climate change has brought on global pressure for divestment. This will only grow from regulators above and customers below, creating an accelerating problem for those remaining in carbon intensive assets:
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