Post by account_disabled on Feb 20, 2024 0:34:16 GMT -5
Sarah George, columnist for edie , comments that BlackRock has new software that will help you evaluate investments for climate risks. Called Aladdin Climate, the software has features to measure both physical and transition risks for entire portfolios. It is also capable of measuring the impact of probable and potential policy changes and technological advances on specific investments. BlackRock has worked with data providers Sustainalytics and Refinitiv to develop the software and says it offers more than 1,200 key performance indicators related to environmental, social and governance (ESG) metrics. Climate-related features will be made available to BlackRock's existing Aladdin clients in the first instance, globally. A broader rollout will be completed by the end of 2021, with the hope that it will help investors meet their climate goals and support low-carbon businesses and sectors after the COVID-19 summit. There is no single topic that clients ask us about more than the impact of climate risk on their portfolio. However, while many people talk about climate risk today, what investors need to make informed decisions is data tied to the specific securities in their portfolio. Rob Goldstein, COO of BlackRock. BlackRock has historically faced criticism for its handling of the sustainability performance of the companies in which it invests.
However, it joined Climate Action 100+ earlier this year and has since taken voting action against 53 companies on climate grounds. It has also identified more than 150 companies it invests in as climate laggards Europe Cell Phone Number List and warned them of possible future voting measures. Barclays Bluetrack In related news, Barclays has set out a series of targets to support its net zero goal by 2050. When the company first announced the 2050 target earlier this year, some environmental groups were skeptical and asked for more details. Progress against the new goals will be outlined on a new digital dashboard called Bluetrack. The targets are specific to each sector and use both a mix of emissions intensity and an absolute emissions metric. For the energy sector, for example, Barclays is on track to reduce the carbon intensity of its portfolio by 30% by 2025. It has also targeted an absolute reduction of 15% in the same time frame. Barclays has also tried to change the place of weather in the business. The company has appointed a head of climate risk and a head of public policies and CR, the latter will be part of the Executive Committee.
It has also joined the Paris Agreement Capital Transition Assessment (PACTA) Two Tier Investment Initiative, the Partnership for Carbon Financial Accounting (PCAF) and the Alliance for Just Transition Financing. The PCAF, in particular, has seen significant growth in interest in 2020. It is a global collaboration between financial institutions, aimed at bringing the sector together in alignment with the Paris Agreement and increasing climate and nature-related disclosures in regarding loans and investments. New members for 2020 include Citi, Natwest Group and Morgan Stanley. Barclays group chairman Nigel Higgins said the new details and targets will help the bank meet its long-term goal and will also enable campaigners, NGOs and customers to hold it to account. ShareAction, which had been asking Barclays for more details and targets, said: We are pleased to see Barclays reaffirm its plans to be a net zero bank by 2050 and take responsibility for its financed emissions by joining PCAF. We also welcome the publication of a transparent methodology covering Barclays' capital markets activities. However, banks, as a lifeblood of the economy, must take a precautionary approach to tackling the climate crisis. This must involve phasing out support for companies that are clearly out of step with Paris climate goals, especially coal and oil sands companies. Barclays' energy policy fails to eliminate companies with significant exposure to these two sectors and presents a glaring hole in the company's climate ambition. Barclays should also start using a climate scenario that fits its ambition. Barclays uses the IEA Sustainable Development Scenario, which reaches zero 20 years after Barclays expects to do so.