Climate warning
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Invesco

Climate warning

Invesco joins list of US asset managers to exit CA100+ climate group

Invesco (IVZ.N), opens new tab on Friday became the fifth major U.S. investor to exit or scale back their involvement with the Climate Action 100+ coalition of investors, which aims to push highly polluting companies to cut their carbon emissions.
The move follows a decision by the fund arms of JPMorgan (JPM.N), opens new tab and State Street (STT.N), opens new tab and bond giant Pimco to leave in recent weeks, while BlackRock (BLK.N), opens new tab reduced its involvement with the group.
The decision of Invesco, which manages $1.6 trillion in assets, and the others to leave came as CA100+ gears up to implement Phase 2 of its engagement plan, which would see members put more pressure on companies to cut their emissions.
Coalitions such as CA100+ have been criticized by some U.S. Republican politicians as potentially being in breach of antitrust law, although in a statement last week CA100+ said it was confident this was not the case.
Despite that, and "after careful consideration", Invesco said in a statement it had "decided to withdraw from the Climate Action 100+ initiative as we believe our clients’ interests in this area are better served through our existing investor-led and client-centric issuer engagement approach".
A spokesman for CA100+ said the group continued to have the backing and support of hundreds of investors globally, including asset owners.
"This is supported by the 60 new signatories with approximately $3 trillion in AUM (assets under management) joining since the launch of phase two alone, thereby further highlighting the strong ongoing demand for investor-led climate action."

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https://www.reuters.com/sustainability/invesco-joins-list-us-asset-managers-exit-ca100-climate-group-2024-03-01/



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  • Ann Nyambura

    2 w

    We need strong, coordinated action to tackle climate change, and this move is concerning.

    1
    • johnte ndeto

      5 w

      It's disappointing to see Invesco withdraw from the CA100+ climate group, as collaboration and collective action are crucial in addressing climate change.

      5
      • We Don't Have Time

        6 w

        Dear Boniface Kuria Your climate warning has received over 50 agrees! We have reached out to Invesco by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

        1
        • George Kariuki

          6 w

          We need to keep pushing for stronger regulations, hold corporations accountable, and support initiatives like CA100+. Together, we can still fight for a sustainable future. #ClimateActionNow #NoRoomForFossilFuels

          4
          • Markus Lutteman

            6 w

            What is wrong with these CEO’s and boards?

            3
            • Elizabeth Gathigia

              6 w

              Very alarming news , if they are backtracking on their commitment in climate action then "movethemoney " from lnvesco

              5
              • Boniface Kuria

                6 w

                @elizbeth_gathigia I agree with you. Its time to #movethemoney

                2
              • Sarah Chabane

                6 w

                Shameful!

                5
                • Ingmar Rentzhog

                  6 w

                  It is a disgrace. we must #movethemoney away from Invesco

                  6
                  • Boniface Kuria

                    6 w

                    @Rentzhog #MOVETHEMONEY. I completely agree with you.

                    6
                  • Chris Ndungu

                    6 w

                    This trend is alarming. Fathoming what is driving corporations to backtrack their engagement in climate action is quite tricky.

                    14
                    • Boniface Kuria

                      6 w

                      @chris_ndungu I think it should be investigated.

                      6
                    • Boniface Kuria

                      6 w

                      This is now becoming a worrying trend. I don't understand what is driving corporations to backtrack on their commitment in climate action.

                      13
                      • Jane Wangui

                        6 w

                        @boniface_kuria Greed , money, power.They forget commitment to climate action is for the greater good.

                        14
                        • CHRIS NGATIA

                          5 w

                          @jane_wangui Greed, money and power are the things that brought us to this point and if nothing is done they will bring our environment to its downfall

                          1
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