Asset managers join forces with eco-warriors

The pandemic, far from distracting investors, has persuaded them of the potential financial damage from global warming.

Despite the health crisis, 2020 has proved to be a landmark year for investor action on climate change, iStock

Attracta Mooney and Patrick Temple-West

Jul 29, 2020 – 6.18am

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As 2020 kicked off, Dan Gocher at the Australasian Centre for Corporate Responsibility, a shareholder advocacy organisation, was feeling “pretty optimistic” about its plans to force big Australian energy companies to tackle climate change.

BlackRock, the $US6.8 trillion ($9.5 trillion) asset manager, and other large investors had proclaimed an urgent need to arrest global warming. With the renewed focus on climate change following the devastating bushfires in Australia, the ACCR was hopeful that several climate-related resolutions filed at oil and gas producers Santos and Woodside would gain strong shareholder support at their annual meetings in April.

Financial Times