To enhance long-term investor value, and instigate positive change in terms of sustainability, NN Group’s asset manager NN Investment Partners (NN IP) has been actively engaging on climate risk with companies in utilities sector since 2016. Now NN IP expands its engagement to the chemicals sector by joining the global Climate Action 100+ initiative.
The Climate Action 100+ is a new, five-year investor initiative to engage with the world’s largest corporate greenhouse gas emitters to curb emissions, strengthen climate-related financial disclosures and improve governance on climate change. Among the top 100 companies are the most significant global emitters of greenhouse gases The list includes, but is not limited to, companies within the oil and gas, electric power, and transportation sectors.
Valentijn van Nieuwenhuijzen, Chief Investment Officer at NN IP: ’As a large international asset manager, we recognise that climate risks are material to many companies. Today’s announcement illustrates our strong commitment to enhance shareholder value, while at the same time being a responsible investor, a journey we already started in the late 1990s. Through initiatives such as the Climate Action 100+ initiative, we aim to help address climate change.’
As part of the initiative, NN IP will enter into dialogue, and work with three major companies in the chemicals sector in which it invests, to ensure that they are minimising and disclosing the risks, and maximising the opportunities presented by climate change. NN IP will also support other investors in their engagement efforts in the oil & gas and mining sector. By joining this initiative the asset manager implements its commitment expressed in the Global Investor Statement on Climate Change, of the Paris Climate Change Conference in 2015. A clear engagement agenda is set for all companies in the initiative and each year a report on the progress will be made public.
The Climate Action 100+ initiative was officially launched in Paris today, on the second anniversary of the Paris Agreement. In the Climate Action 100+ initiative different regional investor climate change platforms – amongst which the European Institutional Investor Group on Climate Change (IIGCC) – join their forces in partnership with the United Nations’ supported Principles for Responsible Investment (PRI). NN Group is a member of the IIGCC since July 2017, and NN IP has been a member of the PRI since 2008.
More details can be found on the initiative’s website, www.climateaction100.org