The third annual One Planet Sovereign Wealth Funds Summit took place on Friday 20th of November, in the presence of President Macron. This growing initiative, which aims to accelerate the transition to more sustainable financial markets and to a low carbon economy as well as ensuring full alignment with the Paris Agreement, has gathered 33 CEOs of Sovereign Wealth Funds, Asset Managers and Private Equity Firms.
This was an opportunity to discuss the activities and milestones around the strengthening of responsible investment policies, increased corporate engagement on climate-related financial disclosures, and new investments in renewable energy and climate solutions. A statement of support was developed collectively to drive the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations as a global reporting standard.
At BNP Paribas Asset Management, we welcome the growth of the One Planet Summit Initiative and remain more than ever committed to the goals and principles of the initiative. In 2020, we have continued to reinforce our commitment to generating long-term sustainable investment returns to our clients. We are convinced, that investing in sustainability, integrating ESG criteria across the entire investment process and engaging pro-actively with companies is the way forward to creating value for clients also benefiting the economy as a whole.
In line with the initiative’s three principles, here are a few of our key achievements this year include:
Enhanced investment policies & processes to further align with the goals of the OPSWF and the Paris Agreement by committing to aligning its portfolios with the Paris Agreement and implementing a significantly tighter exclusion policy on companies engaged in (i) the mining of thermal coal and (ii) the generation of electricity from coal.
Encourage greater accountability and action on material climate change issues in corporate governance, business strategy and planning, risk management and public reporting to promote value creation; also in line with the TCFD.
Actively contribute to the global financial system in allocating capital to companies and projects by increasingly integrating climate change related risks and opportunities into investment management through the development of new tools, analytics and investment vehicles.
BNPP AM welcomes the new members who have joined the One Planet Summit initiative and is particularly pleased with the integration of several sovereign wealth funds, thus joining forces with players in asset management and private equity to accelerate the transition to a low-carbon economy.