Railpen, Phoenix Group, Allianz and BlackRock are among a list of investors highlighted for their climate transition plans in a document published last week.
The Glasgow Financial Alliance for Net Zero (GFANZ) namechecked 44 entities – including 28 financial institutions – that have introduced components of net zero transition plans (NZTP) aligned with the body’s guidance. Many of the 44 are members of one of GFANZ’ subgroups, such as the Net Zero Asset Owner Alliance.
The document links through to the exact location where each entity has published a notable component of its NZTP, so that others can “see how different organisations across the financial sector and real-economy have approached net zero transition planning”.
Examples range from engagement strategies and targets and metrics, through to governance structures.
AXA Investment Managers, HSBC, Robeco, Impax and Aviva are also mentioned in the list.
“The examples are not intended to represent ‘best practice’, nor demonstrate disclosures that fully cover all the guidance in GFANZ’s NZTP voluntary framework,” the document stated.
“Instead, the mapping of the examples to themes and components in the GFANZ framework shows how these could be integrated into transition planning and are provided to generate inspiration for organizations beginning their transition planning process or for those looking to refine their plan.”
A number of asset owners have published updated climate transition plans in recent months. In October, the public pension scheme for Wiltshire in the UK outlined its decarbonisation targets to 2050, along with progress against them. The UK’s LGPS Central also launched its net zero strategy.
Next week, the UK’s Transition Plan Taskforce is expected to release draft guidance on what key sectors, including finance, should include in climate transition plans. Once finalised, the guidance will feed into regulation being introduced by the Financial Conduct Authority.
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