2021 Global Investor Statement to Governments on the Climate Crisis
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2021 Global Investor Statement to Governments on the Climate Crisis
This statement, coordinated by the seven Founding Partners of The Investor Agenda,
is signed by 457 investors representing over USD $41 trillion in assets
We stand at the beginning of a pivotal decade in which institutional investors and government
leaders worldwide have the power to raise ambition and accelerate action to tackle the climate
crisis. If we do not meet this challenge and change course immediately, the world could heat in
excess of 3-degrees Celsius this century1 – far beyond the goal of the Paris Agreement to limit
the global average temperature rise to no more than 1.5-degrees Celsius, which scientists say
is necessary to avoid the worst impacts of climate change.
To achieve this common goal, we must work together to reduce global net carbon dioxide
emissions by 45 percent from 2010 levels by 20302, with a dramatic reduction of all greenhouse
gas emissions essential for reaching net-zero emissions by 2050 or sooner. Key to this is ensuring
government leaders support sustainable COVID-19 economic recovery efforts consistent with
net-zero emissions.
As the world prepares to gather for the 26th United Nations Climate Change Conference of
the Parties (COP26), we encourage all countries to significantly strengthen their Nationally
Determined Contributions (NDCs) for 2030 and to ensure a planned transition to net-zero
emissions by 2050 or sooner. While we recognize the differentiated responsibilities and
respective capabilities of countries, we believe that those who set ambitious targets in line
with achieving net-zero emissions, and implement consistent national climate policies in the
short-to-medium term, will become increasingly attractive investment destinations. Countries
that fail to do so will find themselves at a competitive disadvantage.
In this shared global crisis, investors and governments each have a responsibility to act swiftly
and boldly. Investors are taking climate action in line with The Investor Agenda, with more
investors than ever before embedding net zero goals and strategies into their portfolio decisions,
engaging companies to cut their emissions and calling on policymakers to deliver robust climate
action. Investors are urgently seeking to decrease their exposure to climate risk as a core
fiduciary duty and benefit from the opportunities associated with the transition to a net-zero
emissions economy.
However, our ability to properly allocate the trillions of dollars needed to support the net-zero
transition is limited by the ambition gap between current government commitments (as set
out in NDCs) and the emission reductions needed to limit global average temperature rise to
1.5-degrees Celsius. In addition, as owners of (or those representing owners of) companies,
we need access to adequate information on how these companies are assessing and managing
the risks and opportunities presented by climate change. Government policy has a critical role
to play in increasing our access to and affirmative disclosure of such information.
1
https://www.unenvironment.org/emissions-gap-report-2020
2
https://www.ipcc.ch/2018/10/08/summary-for-policymakers-of-ipcc-special-report-on-global-warming-
of-1-5c-approved-by-governments/
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DISCLOSURE INSIGHT ACTIONThese gaps – in climate ambition, policy action and risk disclosure - need to be addressed with
urgency.
We, therefore, call on all governments in 2021 to:
1. Strengthen their NDCs for 2030 before COP26, to align with limiting warming to 1.5-degrees
Celsius and ensuring a planned transition to net-zero emissions by 2050 or sooner.
2. Commit to a domestic mid-century, net-zero emissions target and outline a pathway with
ambitious interim targets including clear decarbonization roadmaps for each carbon-in-
tensive sector.
3. Implement domestic policies to deliver these targets, incentivize private investments in
zero-emissions solutions and ensure ambitious pre-2030 action through: robust carbon
pricing, the removal of fossil fuel subsidies by set deadlines, the phase out of thermal
coal-based electricity generation by set deadlines in line with credible 1.5-degrees
Celsius temperature pathways, the avoidance of new carbon-intensive infrastructure
(e.g. no new coal power plants) and the development of just transition plans for affected
workers and communities.
4. Ensure COVID-19 economic recovery plans support the transition to net-zero emissions
and enhance resilience. This includes facilitating investment in zero-emissions energy and
transport infrastructure, avoiding public investment in new carbon-intensive infrastructure
and requiring carbon-intensive companies that receive government support to enact
climate change transition plans consistent with the Paris Agreement.
5. Commit to implementing mandatory climate risk disclosure requirements aligned with the
Task Force on Climate-related Financial Disclosures (TCFD) recommendations, ensuring
comprehensive disclosures that are consistent, comparable, and decision-useful.
Strong policies, in line with limiting global warming to no more than 1.5-degrees Celsius, can
accelerate and scale up private capital flows towards the net-zero transition. Full implementation
of the Paris Agreement will create significant investment opportunities in clean technologies,
green infrastructure and other assets, products and services needed in this new economy.
In turn, investors can use capital allocation and stewardship to support sustainable activities
that generate jobs and economic growth, transition away from carbon-intensive activities and
increase resilience. We encourage governments to engage closely with investors to make sure
these opportunities are fully realized.
As investors, we are committed to working with governments to ensure policy mechanisms are
developed and implemented to transition to a climate resilient net-zero emissions economy by
2050 or sooner.
We urge all governments to step up their collective response to the climate crisis.
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DISCLOSURE INSIGHT ACTIONNote: The following 457 investor signatories with over USD $41 trillion in assets are listed in
alphabetical order by organisation name.
a.s.r. asset management Avera Health
Aargauische Pensionskasse (APK) Aviva Plc
Aberdeen Standard Investments Avon Pension Fund
Absa Asset Management Aware Super
Achmea Investment Management AXA Investment Managers
Active Ownership Fund Bamboo Capital Partners
Active Super BancoPosta Fondi Sgr
AIF Capital Limited BankInvest
Aikya Investment Management Bâtirente
AIP Management BayernInvest Kapitalverwaltungsgesellschaft
AkademikerPension mbH
Aktia Bank BBGI Global Infrastructure S.A.
Alecta BBVA Asset Management
Algebris Investments Bernische Lehrerversicherungskasse
AllianceBernstein Bernische Pensionskasse BPK
Allianz Global Investors BMO Asset Management Ltd
Alquity Investment Management Limited BNP Paribas Asset Management
Alternative Capital Partners SGR Spa BONUS Pensionskassen Aktiengesellschaft
Amberside Capital Border to Coast Pensions Partnership
AMF Boston Common Asset Management
Amundi Boston Trust Walden
Anaxis Asset Management Brawn Capital
Andra AP-fonden (AP2) Bridges Fund Management
Anesvad Foundation British Columbia Investment Management
Angel Oak Capital Advisors, LLC Corporation (BCI)
Anima Sgr British Columbia Municipal Pension Plan
AP Pension British Dietetic Association
AP3 Third Swedish National Pension Fund Brunel Pension Partnership
AP4 Fourth Swedish National Pension Fund BT Pension Scheme
AP6 Sixth Swedish National Pension Fund Bupa
AP7 Seventh Swedish National Pension Fund Cadence Investment Partners LLP
APG Asset Management Caisse Cantonale d’Assurance Populaire
ARDEA Investment Management - CCAP
Arisaig Partners Caisse de dépôt et placement du Québec
Armstrong Asset Management (CDPQ)
Artico Partners Caisse de pension du Comité international de
Arvella Investments la Croix-Rouge
As You Sow Caisse de pension Hewlett-Packard Plus
Assenagon Asset Management S.A. Caisse de pensions de l’Etat de Vaud (CPEV)
Asset Management One Caisse de pensions du CERN
ATISA Personalvorsorgestiftung der Caisse de pensions du personnel communal
Tschümperlin-Unternehmungen de Lausanne (CPCL)
ATLAS Infrastructure Caisse de pensions ECA-RP
ATP Caisse de prév. des Fonctionnaires de Police &
Ausbil Investment Management Limited des Etablissements Pénitentiaires
Australian Ethical Investment Caisse de Prévoyance de l’Etat de Genève
AustralianSuper Caisse de Prévoyance des Interprètes de
Avaron Asset Management Conférence (CPIC)
3
DISCLOSURE INSIGHT ACTIONCaisse de prévoyance du personnel Corporate Responsibility office - Province of
communal de la ville de Fribourg Saint Joseph of the Capuchin Order
Caisse de prévoyance du personnel de l’Etat Crédit Mutuel Asset Management
de Fribourg (CPPEF) Dana Investment Advisors
Caisse de prévoyance du personnel de l’Etat Danica Pension
du Valais (CPVAL) Danske Bank Asset Management
Caisse intercommunale de pensions (CIP) DBAY Advisors Limited
Caisse paritaire de prévoyance de l’industrie Developing World Markets
et de la construction (CPPIC) DIF Capital Partners
Caja Ingenieros Discovery Limited
Caja Ingenieros Gestión SGIIC Domini Impact Investments
California Public Employees Retirement Dominican Sisters of Sinsinawa
System (CalPERS) Dorval Asset Management
California State Controller DPAM
California State Teachers Retirement System Dragon Capital Group
Calvert Research and Management DSM Capital Partners LLC
Canada Post Corporation Pension Plan DWS Group
Candriam Dynam Capital, Ltd
CAP Prévoyance Earth Capital
Capital Dynamics East Capital Group
Capricorn Investment Group Eastspring Investments Group Pte. Ltd.
Cardano Ecofi
CareSuper EdenTree Investment Management
Carmignac EGAMO
Cassa Nazionale di previdenza e assistenza Ekkio Capital
forense Elo Mutual Pension Insurance Company
Castlefield Investment Partners EMCORE AG
Cathay Financial Holdings Environment Agency Pension Fund
Cbus Super Epworth Investment Management Limited
CCLA EQ Investors
CCOO, FP ERAFP
CenterSquare Investment Management Eric Sturdza Investments
Central Finance Board of the Methodist ESG Portfolio Management
Church Etablissement Cantonal d’Assurance (ECA
Christian Brothers Investment Services, Inc. VAUD)
Christian Super ETHENEA Independent Investors S.A.
Church Commissioners for England Ethical Partners Funds Management
Church of England Pensions Board Ethos Foundation
Church of Scotland Investors Trust Evanston Capital Management, LLC
Church of Sweden Evenlode Investment
CIEPP - Caisse Inter-Entreprises de Evli Bank
Prévoyance Professionnelle Fairpointe Capital
Clean Energy Venture Management, LLC Falkirk Council Pension Fund
CleanCapital FAMA Investimentos
CNP Assurances Federated Hermes International
Colchester Global Investors Fidelity International
Colonial First State FIM Asset Management
Committee on Mission Responsibility Finance in Motion
Through Investment of the Presbyterian First Affirmative Financial Network
Church U.S.A. FMO - Dutch entrepreneurial development
Cooler Future bank
4
DISCLOSURE INSIGHT ACTIONFondation de la métallurgie vaudoise du Inherent Group
bâtiment (FMVB) Insight Investment
Fondation de Luxembourg Inspired Evolution Investment Management
Fondation de prévoyance Artes & Comoedia (Pty) Ltd
Fondation de prévoyance du Groupe BNP Intech Investment Management LLC
PARIBAS en Suisse Investment Management Corporation of
Fondation de prévoyance professionnelle en Ontario
faveur de AROMED Investor Advocates for Social Justice
Fondation de prévoyance Romande Energie Ircantec
Fondation Interprofessionnelle Sanitaire de ISGAM AG
Prévoyance (FISP) J. Safra Sarasin Sustainable Asset
Fondation Leenaards Management
Fondation Patrimonia JAB Holding Company Sàrl
Fonditel Pensiones EGFP JLens Investor Network
FONDO DE PENSIONES EMPLEADOS DE Joseph Rowntree Charitable Trust
TELEFONICA Jupiter Asset Management
Fondoposte KBI Global Investors
Fonds de Prévoyance de CA Indosuez Keva
(Suisse) SA Khumo Capital (Pty) Ltd
Fonds interprofessionnel de prévoyance (FIP) Kinnerton Credit Management A/S
Foresight Group Kyma Investment Partners
Första AP-fonden (AP1) La Banque Postale
Friends Fiduciary Corporation La Financière de L’Echiquier
Fulcrum Asset Management Lægernes Pension
FullCycle Legal & General Investment Management
GAM Investments Lincluden Investment Management Ltd.
Gebäudeversicherung Luzern Liontrust Investment Partners LLP
Gebäudeversicherung St. Gallen Lloyds Banking Group Pensions Trustees
Generation Investment Management LLP Limited
Gestion FÉRIQUE Local Authority Pension Fund Forum
GIB Asset Management Local Pensions Partnership
Glasswing Ventures LocalTapiola Asset Management ltd
Glennmont Partners Lombard Odier Investment Managers
GOOD GROWTH INSTITUT für globale London Pensions Fund Authority
Vermögensentwicklung mbH Longlead Capital Partners Pte. Ltd.
Gore Street Capital Los Angeles County Employees Retirement
Greater Manchester Pension Fund Association (LACERA)
Green Century Capital Management Luzerner Pensionskasse
Groupama Asset Management M&G plc
Groupe La Française Macroclimate LLC
Handelsbanken Fonder AB MAIF
Handmaids of the Sacred Heart of Jesus Maitri Asset Management
HESTA Majedie Asset Management
Hexavest Man Group plc
Holberg Fondsforvaltning Manulife Investment Management
HSBC Asset Management Martin Currie Investment Management
HSBC Bank Pension Trust (UK) Limited Limited
IFM Investors Mercer Investments
Ilmarinen Mutual Pension Insurance Merseyside Pension Fund
Company MFS Investment Management
Impax Asset Management Miller/Howard Investments, Inc.
5
DISCLOSURE INSIGHT ACTIONMIMCO Capital S.à r.l. Palisade Investment Partners Limited
Missionary Oblates/OIP Trust Pantheon Ventures
Mistra, the Swedish Foundation for Strategic Pathfinder Asset Management
Environmental Research PenSam
Mitsubishi Corp.-UBS Realty Inc. Pensioenfonds Detailhandel
Mitsubishi UFJ Trust and Banking Pensioenfonds Metaal en Techniek (PMT)
MN PensionDanmark
Montanaro Asset Management Pensionskasse AR
MPC Capital Pensionskasse Bank CIC (Schweiz)
Munich Venture Partners Pensionskasse Basel-Stadt
MV Credit Partners LLP Pensionskasse Bühler AG Uzwil
MYRA Investments Pensionskasse Caritas
Nanuk Asset Management Pensionskasse der Basler Kantonalbank
National Grid UK Pension Scheme Pensionskasse der Stadt Frauenfeld
Natural Investments Pensionskasse der Stadt Winterthur
NatWest Group Pension Fund Pensionskasse Pro Infirmis
NEI Investments Pensionskasse Römisch-katholische
Nest Sammelstiftung Landeskirche des Kantons Luzern
Neuberger Berman Pensionskasse Schaffhausen
Neumeier Poma Investment Counsel, LLC Pensionskasse SRG SSR
New Forests Pensionskasse Stadt Luzern
New York City Office of the Comptroller Pensionskasse Stadt St. Gallen
New York State Comptroller Pensionskasse Unia
Newton Investment Management Personalvorsorgekasse der Stadt Bern
NextEnergy Capital PFA Pension
NGS Super Fund PGGM
Nikko Asset Management Co., Ltd. Phitrust
Ninety One PIMCO
Nissay Asset Management Corporation PKA
NN Investment Partners Polden-Puckham Charitable Foundation
Nomura Asset Management Co., LTD. Postevita
Nomura Real Estate Asset Management Co., Power Pacific Investment Management Inc.
Ltd. Prévoyance Santé Valais (PRESV)
Nordea Asset Management prévoyance.ne
Norsad Finance Limited PriorNilsson Fonder
North East Scotland Pension Fund Profelia Fondation de prévoyance
Northern Ireland Local Government Officers’ Prosperita Stiftung für die berufliche Vorsorge
Superannuation Committee (NILGOSC) Qualitas Equity Funds
NorthStar Asset Management, Inc. Quintet Private Bank
Northwest Coalition for Responsible Raiffeisen Pensionskasse Genossenschaft
Investment RAM Active Investments SA
NZ Funds Rathbone Brothers PLC
OFI AM Regroupement pour la Responsabilité
Öhman Fonder Sociale des Entreprises (RRSE)
Oldfield Partners Rentes Genevoises
OPTrust Resona Asset Management Co., Ltd.
Ossiam Rize ETF
Ostrum Asset Management Robeco
P+, Pensionskassen for Akademikere Royal London Mutual Insurance Society
P1 Investment Management Ltd RP - Fonds institutionnel
Pædagogernes Pension (PBU) RPMI Railpen
6
DISCLOSURE INSIGHT ACTIONRuffer LLP The Atmospheric Fund
Russell Investments The Barrow Cadbury Trust
Sampension Administrationsselskab A/S The Church Pension Fund (Finland)
San Francisco Employees’ Retirement The Dai-ichi Life Insurance Company,
System (SFERS) Limited
Sant Charitable Foundation, Inc. The David Rockefeller Fund
Santander Asset Management The Highland Council Pension Fund
Sarasin & Partners LLP The Pension Protection Fund
SAUL Trustee Company The University of Glasgow
Schroders The William Leech Foundation Limited
Scientific Beta Thematics Asset Management
SCOR SE TOBAM
Scottish Widows Group Limited Tribe Impact Capital LLP
SEB Investment Management Trillium Asset Management
Secunda Sammelstiftung Trinetra Investment Management LLP
Servite Friars Triple Point
Seventh Generation Interfaith Inc UBS Asset Management
SharePower Responsible Investing Unfallversicherungskasse des Basler
Sisters of Mary Reparatrix Staatspersonals
Sisters of St. Francis of Philadelphia Union Bancaire Privée, UBP SA
Sisters of the Holy Cross Union Investment
Skandia Fonder Unipol Group
Skandia Liv UniSuper
Smart Private Managers (Luxembourg) S.a. Université de Genève (UNIGE)
Söderberg Partners Asset Management Universities Superannuation Scheme - USS
Solaris Investment Management Limited University of Toronto Asset Management
Sophia University Valo Ventures
Sp-Fund Management Company Ltd Van Lanschot Kempen
Spida Personalvorsorgestiftung Vancity Investment Management Ltd. (VCIM)
St. Galler Pensionskasse Varma Mutual Pension Insurance Company
St. James’s Place Wealth Management Vauban Infrastructure Partners
Stafford Capital Partners Velliv
State Street Global Advisors Vendis Capital
Statewide Super Verein Barmherzige Brüder von Maria-Hilf
Stiftung Abendrot (Schweiz)
Storebrand Asset Management Veritas Investment Partners (UK) Limited
Strathclyde Pension Fund Vert Asset Management
Sumitomo Mitsui Trust Asset Management VidaCaixa
Summit Charitable Foundation, Inc. Vision Super Pty Ltd
Sustainable Network Vontobel
SVA Zürich Vorsorge SERTO
Swedbank Robur Washington State Investment Board
Swiss Federal Pension Fund PUBLICA Water Asset Management LLC
Swisscanto Invest by Zürcher Kantonalbank Wermuth Asset Management GmbH
Sycomore Asset Management Wespath Benefits and Investments
Tabula Investment Management Limited West Yorkshire Pension Fund
Tawreeq Holdings Limited Wetherby Asset Management
TBF Global Asset Management WHEB Asset Management
Telligent Capital Management Limited Whitehelm Capital
Terra Alpha Investments Zevin Asset Management
Terre des hommes Schweiz Zurich Insurance Group
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