Canadian managers' support for climate-relevant shareholder resolutions in 2022 fell sharply From jefflagerquist
A new report found the world's largest money managers backtracked on climate action last year, as an anti-ESG trend took hold among U.S. lawmakers.
U.K.-based think tank InfluenceMap says it analyzed 45 of the world's largest asset managers, a group with US$72 trillion in assets under management. Its report, released on Monday, points to a "significant gap between the increase in net-zero commitments by the world's largest asset managers and their lack of meaningful short-term climate action."
The report found asset managers globally hold almost three times more stock in fossil fuel companies than in green investments, while "stewardship efforts appear to have stagnated, contributing to continuously climate-misaligned portfolios."
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