AUM in Action

CA100+ Responds to Investor Exits

The investor-led engagement initiative Climate Action 100+ (CA100+) has responded to a decision made by some of its members to drop out of the voluntary programme. JP Morgan Asset Management, State Street Global Advisors, and PIMCO all recently announced their decision to step away from the initiative while BlackRock, the world’s largest asset manager, transferred its participation in CA100+ to BlackRock International. “While we are disappointed to see them go, hundreds of investor signatories remain committed to ensuring 170 of the largest greenhouse gas emitters reduce emissions, improve governance, and strengthen climate-related financial disclosures,” CA100+ said in its statement. It reiterated that the initiative has achieved “remarkable progress” in driving the climate transition efforts of some of the world’s most carbon-intensive companies, having launched phase two of the strategy in June 2023 following consultation with signatories. Investors involved in phase two will be asking companies to implement transition plans, alongside existing efforts to improve target-setting and disclosures. “Investors participating in CA100+ and engaging with companies do so to manage risk and opportunity to preserve long-term shareholder value for their clients and beneficiaries, in line with their fiduciary duties,” CA100+ said. “All participating investors are independent fiduciaries responsible for their own investment and voting decisions, and they agree to always act independently in setting strategies, policies and practices. [It is up to them] to make their own decisions regarding ongoing participation in the initiative.”

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