A United Nations-backed investor programme created to pressure Australia to hasten decarbonisation plans will add 18 new money dealers, involving Fidelity International and Morgan Stanley Investment Management, as investor problems raise over the affect of climate change perils on the nation’s debt.
Neuberger Berman and Sumitomo Mitsui Trust Asset Management are also with firms collaborating the independent engagement programme governed by the Principles for Responsible Investment (PRI), the party revealed in a statement a few days back. The additions enlarge the attempt from seven investors to 25, with a joint US$8 trillion (S$11 trillion) in assets, it revealed.
The rise happens as money managers worldly deal with understanding how heatwaves, droughts, floods and other intense weather events will affect investments involving sovereign connections. That is as more nations look to increase money in debt markets to finance e environment protection, social and governance activities. Australia is the only nation the Collaborative Sovereign Engagement on Climate Change initiative is directing.
The country “has not been able to perform up to the mark of other Organisation for Economic Cooperation and Development nations typically for the goal of climate indicators” whilst being above average on social and governance factors, said Mr Peter van der Werf, head of engagement at Robeco and an advisory committee member.