The group’s director of finance sector strategies, Wolfgang Kuhn, welcomed the upcoming vote at Barclays.
“Voting for both these resolutions will cement the bank’s new high-level climate commitment while at the same time insisting on the near-term ambition needed to deliver the results everyone wants. A climate strategy cannot be considered complete without recognising that transition necessarily means phase-out when it comes to fossil fuels, particularly the highest carbon fuels where Barclays has significant exposure,” he said.
Asset managers
Earlier this month, ShareAction said that six of the world’s largest asset managers – BlackRock, Vanguard, State Street, Fidelity Investments, Capital Group, and JP Morgan Asset Management – are the worst performers in terms of the ecological and social harms of their investments.
Although the group’s study is based on October 2019 data and therefore does not include action taken since, including BlackRock’s pledge to scrap investments in companies that have high sustainability-related risk.
“ShareAction’s most ambitious study yet reveals who is really walking the talk on environmental and social issues, and who is dragging their feet in the asset management space. While many in the industry are eager to promote their ESG credentials, our analysis clearly indicates that few of the world’s largest asset managers can lay claim to having a truly sustainable approach across all their investments,” said Felix Nagrawala, ShareAction senior analyst.
