World’s biggest climate investor group seeks to strengthen support post shock-exits of firms
The largest climate investor group, Climate 100+ (CA100+), reassured its members that its methods comply with US antitrust and securities laws, per Reuters’ letters on Thursday.
This assurance comes as leaders try to regain support following the recent departure of several major firms from Climate Action 100+.
Last week saw the fund arms of State Street, JPMorgan, and Pimco withdraw, while BlackRock, the world’s largest asset manager, reduced its participation.
In a letter sent to members on Wednesday, the Principles for Responsible Investment (PRI), one of the five investor networks coordinating CA100+, encouraged members to remain steadfast despite the departure of what it called “a small number of members.” The letter also addressed legal concerns.
Also read: US regulatory body omits certain emissions disclosure mandates from climate draft
Chief Executive David Atkin wrote, “The PRI designs and facilitates initiatives in a way that we believe enables investors to maintain compliance with rules and regulations in key markets, including anti-trust and securities laws in the USA.”
“For instance, no initiative ever requires a signatory to vote in a certain way, even for votes or resolutions that fellow investors have put forward or flagged. Collaborative engagements with companies are always investor-led and always voluntary,” Atkin added.
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