Church of England Pensions Board Invests $780 Million in New Climate Index
30 Gennaio 2020 - 02:14PM
Dow Jones News
By Maitane Sardon
The Church of England Pensions Board said Thursday that it is
investing 600 million pounds ($780.8 million) in a new passive
index backing the Paris climate goals.
The FTSE TPI Climate Transition Index was developed by the
Church of England Pensions Board, index provider FTSE Russell and
the Transition Pathway Initiative, an investor-led initiative that
has developed an online tool to assess how companies are positioned
for the transition to a low-carbon economy.
The launch of the index responds to calls by the governor of the
Bank of England for funds to address climate change's financial
risks, the Church of England said.
The church said the index will underweigh companies with
fossil-fuel reserves and will overweigh or underweigh companies
according to their greenhouse-gas emissions. Companies that have
targets aligned with the Paris Agreement will have higher weighting
in the index.
"The message is clear to all publicly listed companies: put in
place targets and strategies aligned to Paris and be rewarded with
inclusion in the index or work against the long-term of interests
of beneficiaries and wider society and be excluded," said Adam
Matthews, Director of Ethics and Engagement for the Church of
England Pensions Board.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
January 30, 2020 07:59 ET (12:59 GMT)
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