Show threadCelloMom On CarsApr 23, 2024

"Australia’s biggest superannuation fund has joined a protest vote against #WoodsideEnergy’s failure to do more to address the climate crisis, saying it has unanswered questions about the fossil fuel company’s plans.

Norway’s largest pension fund, #KLP, and Britain’s biggest asset manager, #LGIM, are among investors to disclose they will vote against Woodside’s climate report."

https://www.theguardian.com/australia-news/2024/apr/23/australian-super-protest-woodside-energy-climate-crisis-net-zero

Australia’s largest super fund joins protest vote against Woodside’s climate plans

AustralianSuper says it has ‘ongoing concerns’ about how the country’s biggest oil and gas company will reach net zero emissions by 2050

The Guardian
Show threadCelloMom On CarsApr 13, 2023

"LGIM said it would back proposals for a time-bound policy to phase out lending and underwriting for #FossilFuel #exploration and development at Citigroup, Bank of America, Wells Fargo, Goldman Sachs, JPMorgan Chase and Morgan Stanley"

"All the votes will go against the recommendations of the banks' management, #LGIM said."

LGIM has $1.5 tn under management and is a top-30 #shareholder in all of the banks.

#AGM #MoneyPipeline
https://www.reuters.com/business/finance/lgs-fund-arm-back-climate-votes-us-canadian-banks-2023-04-13/

L&G's fund arm to back climate votes at U.S., Canadian banks

Britain's biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolutions at the annual meetings of leading U.S. and Canadian banks.

Reuters
Show threadCelloMom On CarsMar 29, 2023

The catch?
We have to move fast before the window of opportunity closes:
"The global economy will save about $19 trillion by 2050 if the transition process begins in earnest today instead of 2030, according to #LGIM."

#ClimateChange #ClimateAction #EnergyTransition
https://www.bloomberg.com/news/articles/2023-03-28/cost-of-energy-transition-so-low-you-ll-need-magnifying-glass

Cost of Energy Transition So Low ‘You’ll Need Magnifying Glass’

Legal & General Investment Management says costs for technologies, such as renewable energy and electric vehicles, have fallen sharply over the past decade.

Bloomberg
CelloMom On CarsMar 29, 2023

Climate action is not expensive:

"The £1.2 trillion ($1.5 tn) asset manager #LGIM said that it has undertaken a “root-and-branch review” of all its #climate scenarios and found that, to its surprise, it would cost a “statistically insignificant amount” to limit the increase in global temperatures to less than 2°C. That outcome could be achieved for the equivalent of as little as 1 basis point of global GDP per month over the next quarter century,"

#ClimateChange
https://www.mining.com/web/cost-of-energy-transition-so-low-youll-need-magnifying-glass/