(FT) Companies asked to come clean on climate lobbying

Susana Penarrubia, head of environmental, social and governance (ESG) integration at German fund manager DWS, says it too has questioned companies on their lobbying activities and plans to step this up for fossil fuel companies. “I am concerned,” she explains.

The 2015 Paris climate agreement, which aims to limit global temperature rises to below 2C from pre-industrial levels, along with other initiatives that push for more disclosure on climate risks, have placed the topic firmly on the agenda for investors.

Union Investment, the €323bn German asset manager, was among a group of European investors that last month wrote to 56 companies, asking them how they work with trade associations on ESG issues.

This followed a move by a group of investors with total assets of $2tn, led by the Church of England Pensions Board and Swedish pension fund AP7, which in October wrote to 55 European companies challenging them on their seemingly inconsistent approach to climate lobbying.

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Posted in Church of England (CoE), Climate Change, Weather, Corporations/Corporate Life, Energy, Natural Resources, Ethics / Moral Theology, Politics in General, Stock Market

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