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Pension Funds and Insurers Commit to Carbon-Neutral Investment Portfolios by 2050

Executive Director of the UN Environment Programme (UNEP) Inger Andersen said: There are no short-cuts to decisive climate action

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Pension, Funds, Insurers
The Alliance is an example of investors stepping up to protect people and the planet with the knowledge that companies that transform their businesses to deliver a low carbon economy will benefit most from the opportunities presented by climate change. Pixabay

In one of the boldest actions yet by the world’s largest investors to decarbonise the global economy, an alliance of the world’s largest pension funds and insurers — responsible for directing more than $2.4 trillion in investments – on Monday committed to carbon-neutral investment portfolios by 2050.

This commitment by the newly launched, UN-convened Net-Zero Asset Owner Alliance, was announced at the UN Secretary-General’s Climate Action Summit, which brought together governments, companies and civil society to strengthen commitments and accelerate the implementation of the Paris Agreement on Climate Change.

The Alliance is an example of investors stepping up to protect people and the planet with the knowledge that companies that transform their businesses to deliver a low carbon economy will benefit most from the opportunities presented by climate change.

Executive Director of the UN Environment Programme (UNEP) Inger Andersen said: “There are no short-cuts to decisive climate action. We need to take a long-term view. I applaud the leadership of the investors in this Alliance. Their commitment sends a strong signal that financial markets and investors are listening to science, and moving us to a path of resilience and sustainability.”

Pension, Funds, Insurers
In one of the boldest actions yet by the world’s largest investors to decarbonise the global economy, an alliance of the world’s largest pension funds and insurers — responsible for directing more than $2.4 trillion in investments – on Monday committed. Pixabay

Asset owners — so called because they are the principal holders of retirement savings or are insurance companies investing their customers’ premiums — represent some of the largest pools of capital on the planet.

Their investment portfolios are highly diversified and exposed to all sectors of the global economy.

Concerned about the disruptive impact that unabated climate change will have on societies and economies, now and in the future, responsible asset owners are powerful allies in global action to fight climate change and limit the rise in global temperature to no more than 1.5 degrees Celsius warming.

As long-term investors who must look far into the future to fund their liabilities, asset owners are keen to ensure that the global economy prospers, that climate-related risks are addressed, and that opportunities to invest in a cleaner tomorrow are captured.

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The Alliance was initiated by Allianz, Caisse des Depots, La Caisse de depots et placement du Quebec (CDPQ), Folksam Group, PensionDanmark and Swiss Re at the beginning of 2019.

Since then, Alecta, AMF, CalPERS, Nordea Life and Pension, Storebrand, and Zurich have joined as founding members.

Convened by the UNEP’s Finance Initiative and the Principles for Responsible Investment, the Alliance is supported by WWF and is part of the Mission 2020 campaign, an initiative led by Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).

Pension, Funds, Insurers
This commitment by the newly launched, UN-convened Net-Zero Asset Owner Alliance, was announced at the UN Secretary-General’s Climate Action Summit, which brought together governments, companies and civil society to strengthen commitments and accelerate the implementation. Pixabay

“Mitigating climate change is the challenge of our lifetime. Politics, business and societies across the globe need to act as one to rapidly reduce climate emissions. We, as asset owners, will live up to our responsibility and, in dialogue with the companies in which we invest, steer towards low-carbon business practices. We’ve already started and, by 2050, our portfolios will be climate neutral,” said Oliver Bate, Allianz’s CEO.

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The members of the Alliance will immediately start to engage with the companies in which they are investing to ensure they decarbonise their business models. (IANS)

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Actress Alia Bhatt to Raise Funds for Animals via Baking

Effectively, 70 per cents of the donations will go to ''World For All''; an NGO which Alia is closely associated with

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Alia Bhatt. Wikimedia Commons

Bollywood actress Alia Bhatt will raise funds for an animal welfare organisation through actor Arjun Kapoor”s sister Anshula Kapoor”s online fundraising platform, Fankind.

As part of a campaign on Fankind, a fan will get will get a chance to bake a cake with the star under the guidance of Indian Pastry Chef Pooja Dhingra. Fans have to donate a minimum amount of Rs.300 or multiples thereof and at the end of the campaign period, one fan will be randomly selected to bake a cake with the “Udta Punjab” actress

“The welfare of animals is a cause I truly believe in and funds raised through this unique experience will support World For All, a charitable organization based in Mumbai that works towards creating a better and safer environment for the cats and dogs living on our streets,” Alia said in a statement.

Alia Bhatt
Actress Alia Bhatt seen at an event. Wikimedia Commons

Effectively, 70 per cents of the donations will go to ”World For All”; an NGO which Alia is closely associated with. This Mumbai-based animal welfare organization has revolutionised the model of stray animal adoptions.

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“As an animal lover and pet parent myself, animal welfare is a cause that is close to my heart and I am so glad that with Alia”s association, Fankind is able to help spread the message about the importance of animal welfare and can raise funds for World For All,” Anshula said. (IANS)