Pensions Caixa 30 renews its international commitment and asks the G20 to maintain the Paris commitments in the fight against climate change.
477 institutional investors from around the world, representing more than $34 trillion in assets, signed a letter to political representatives meeting on 28 June in Osaka.
The Paris Pact, signed in December 2015 by 195 countries, is the first global and binding climate agreement. It established, for the first time in history, an action plan to curb global warming. Through the creation of national policies, the signatory countries committed themselves to reducing their greenhouse gas emissions. To achieve this, the agreement stressed the need to mobilize investment and financial flows towards environmentally friendly economic activities.
With this request, the institutional investor industry expresses its concern about the loss of momentum of the initiatives set out in the climate pact. We urge G7 and G20 members in July 2017, as well as G7 members in June 2018 and G20 members in June 2019 to remain committed to the three key points of the agreement:
- Maintain the implementation of the national measures of the Paris Agreement.
- Continue to drive investments that enable the transition to a low-carbon economy.
- Apply climate-related financial reporting frameworks.
As the letters state, investors consider it “vital” that governments continue to publicly express their commitment to support climate-committed finance to mitigate the effects of global warming. We also recall the importance of public-private partnerships and reiterate our support to governments in mobilizing capital flows.
You can access the letters at the following links (resources removed):
July 2017. Letter to the G7 and G20 for the Paris commitments in the fight against Climate Change.
June 2018. Letter to the G7 on the Paris commitments to combat climate change.
June 2019. Letter to the G20 on the Paris climate change commitments.
Principles for Responsible Investment
The initiative has been promoted by several entities and investor associations committed to responsible investment management, such as the United Nations Principles for Responsible Investment (PRI) project. This year it was led by the seven founding members of The Investor Agenda, an association to which Pensions Caixa 30 is also a member: AIGCC, CDP, Ceres, IIGCC, PRI and UNEP-FI.
Since 2008, Pensions Caixa 30 has adhered to the United Nations Principles for Responsible Investment, the world’s largest project to promote investment management based on environmental, social and good corporate governance criteria. All the fund’s investments are managed in accordance with the principles defined by the UN.
Control Committee of the PC30 and the CaixaBank Employment Pension Plan.
Barcelona, June 2019.