Which Financial Funds Actually Consider Climate Change Risks?
Photo courtesy of Shutterstock
Is your pension fund or insurance company a leader or laggard when it comes to avoiding risky bets on the future impacts of climate change?
A new survey released today finds that many major institutional investors, like retirement funds and insurance companies, are putting their investments (read: your money) at risk by not addressing the negative financial impacts posed by climate change and atmospheric disruption.
The survey, called the Global Climate Investment Risk, is based on data acquired from 460 funds who were invited to provide data, from members of those funds and using publicly available information. Each fund is rated from AAA to X based on investment mix and recognition of the financial risks that climate change will have now and in the future.
Conducted by the Asset Owners Disclosure Project (AODP), the survey concludes that of the 460 funds, only five received a AAA rating, while 173 funds are rated "X."
"While we can see some leaders emerging, many haven't acknowledged their dangerous and foolhardy addiction to investments riddled with climate risk, let alone checked themselves into rehab," says Julian Poulter, Executive Director of AODP.
Sharan Burrow, AODP board member and General Secretary of the International Trade Union Confederation said:
It's pretty clear through the Index that the big laggard funds continue to be too scared to take on big fossil fuel companies, even though they know there are enormous risks through continuing investing in them.
A majority of the world's investment industry are clearly acting contrary to the interests of those whose money they represent - this is an outrageous situation. It must be remembered that much of the money being held by these organizations is the product of workers' lifelong savings.
Here are the 10 best funds that are actively addressing the financial risks of climate change on behalf of their members:
1. Environment Agency Active Pension Fund (UK)
2. Local Government Super (Australian pension fund)
3. CalPERS (US pension fund)
4. Stichting Pensioenfonds Zorg en Welzijn (PFZW/PGGM) (Dutch pension fund)
5. VicSuper (Australian pension fund)
6. AustralianSuper (pension fund)
7. Government Employees Pension Fund (South Africa)
8. Florida Retirement System Pension Plan
9. BT Super for Life (Australia pension fund)
10. Aviva (UK insurance company)
There are too many "X-rated" companies to list here, you can find a complete list on the AODP website.
So where is your money in this mix?
Visit EcoWatch’s CLIMATE CHANGE page for more related news on this topic.
As the world continues to navigate the line between reopening and maintaining safety protocols to slow the spread of the coronavirus, rapid and accurate diagnostic screening remains critical to control the outbreak. New mobile-phone-based, self-administered COVID-19 tests being developed independently around the world could be a key breakthrough in making testing more widely available, especially in developing nations.
- FDA Approves First In-Home Test for Coronavirus - EcoWatch ›
- When Should You Get a COVID-19 or Antibody Test? - EcoWatch ›
- Trump Plans to End Federal Funding for COVID-19 Testing Sites ... ›
EcoWatch Daily Newsletter
- Trump Insider Embeds Climate Denial Into Agency Reports ... ›
- Climate Denier Is Named to Leadership Role at NOAA - EcoWatch ›
New Jersey is one step closer to passing what environmental advocates say is the strongest anti-plastic legislation in the nation.
Did you know that nearly 30% of adults do, or will, suffer from a sleep condition at some point in their life? Anyone who has experienced disruptions in their sleep is familiar with the havoc that it can wreak on your body and mind. Lack of sleep, for one, can lead to anxiety and lethargy in the short-term. In the long-term, sleep deprivation can lead to obesity, diabetes, and cardiovascular disease.
Fortunately, there are proven natural supplements that can reduce insomnia and improve quality sleep for the better. CBD oil, in particular, has been scientifically proven to promote relaxing and fulfilling sleep. Best of all, CBD is non-addictive, widely available, and affordable for just about everyone to enjoy. For these very reasons, we have put together a comprehensive guide on the best CBD oil for sleep. Our goal is to provide objective, transparent information about CBD products so you are an informed buyer.
The House of Representatives passed a sweeping bill to boost clean energy while phasing out the use of coolants in air conditioners and refrigerators that are known pollutants and contribute to the climate crisis, as the AP reported.
- Renewable Energy Could Power the World by 2050 - EcoWatch ›
- Net Zero U.S. by 2050? House Dems Unveil Sweeping Climate ... ›
- Delayed Senate Energy Bill Promotes LNG Exports, 'Clean Coal ... ›