European Asset Owners: alignment with Paris Agreement 2°C climate target
WWF’s report - the first of its kind - shows that 29 of Europe’s major asset owners, mainly pension funds, from the Netherlands, Denmark, Sweden, Norway and Finland have already implemented changes to bring their public equity portfolio more in line with the well under 2°C climate goal. Almost all of them have cut funding to coal mining; however many of them are investing too much in coal power and still lagging behind on renewable power.
WWF contacted 80 of Europe’s largest asset owners representing USD 13 trillion (EUR 11.6 tn) in total assets, but only 29, worth USD 2.2 trillion (EUR 1.9 tn) have agreed to disclose their data so far. More efforts will be needed to improve the lack of disclosure of holdings data, in part due to a current lack of regulation requiring so in some countries.