Sierra Club Endorses Report Revealing Pension Funds Failing to Stop Asset Managers Backing Fossil Fuel Expansion
Key Takeaway
Growing financial and advocacy pressure on institutional investors to divest from fossil fuels signals a tightening investment landscape for fossil fuel projects and a continued shift towards sustainable energy financing.
AI Summary
- •A new report, endorsed by the Sierra Club and other environmental groups, criticizes pension funds for allowing asset managers to continue investing in fossil fuel expansion.
- •The report warns that this continued investment exposes beneficiaries to 'growing climate-related financial risks,' indicating potential future stranded assets or market volatility for fossil fuel-dependent portfolios.
- •This signals increasing pressure from environmental and financial advocacy groups for institutional investors to divest from fossil fuels and reallocate capital towards sustainable energy.
- •For developers, this implies potential tightening of financing for fossil fuel projects and a continued push for renewable energy investment opportunities.
- •For large loads, this reinforces the trend towards decarbonization in financial markets, potentially impacting future energy costs and procurement strategies as investment shifts.
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Article Content
PARIS — Pension funds and other asset owners are exposing clients and beneficiaries to growing climate-related financial risks by failing to stop asset managers supporting fossil fuel expansion, according to new analysis published today by Reclaim Finance and endorsed by AnsvarligFremtid, Fossielvrij NL, Sierra Club, SOS UK, and Urgewald. Read ... [continued] The post Sierra Club Endorses Report Revealing Pension Funds Failing to Stop Asset Managers Backing Fossil Fuel Expansion appeared first on CleanTechnica .