Climate Action 100+
|Name of initiative||Climate Action 100+|
|Secretariat|| Climate Action 100+ is coordinated by five partner organisations: Asia Investor Group on Climate Change (AIGCC); Ceres; Investor Group on Climate Change (IGCC); Institutional Investors Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI).
Contact: Casey Aspin at email@example.com
|Organisational structure||A Global Steering Committee for the initiative was formed by the organisations above, along with five investor representatives from AustralianSuper, California Public Employees’ Retirement System (CalPERS), HSBC Global Asset Management, Ircantec and Manulife Investment Management. OnTwitter: @ActOnClimate100.|
|Name of lead organisation||Climate Action 100+|
|Type of lead organisation||Financial institution|
|Location/Nationality of lead organisation|
|Description||Climate Action 100+ is an investor initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. More than 400 investors with more than $35 trillion in assets collectively under management are engaging companies on improving governance, curbing emissions and strengthening climate-related financial disclosures. The companies include 100 ‘systemically important emitters’, accounting for two-thirds of annual global industrial emissions, alongside more than 60 others with significant opportunity to drive the clean energy transition.|
|Objectives||“As institutional investors and consistent with our fiduciary duty to our beneficiaries, we will work with the companies in which we invest to ensure that they are minimising and disclosing the risks and maximizing the opportunities presented by climate change and climate policy.”|
|Activities|| Climate Action 100+ is a five-year initiative led by investors to engage systemically important greenhouse gas emitters and other companies across the global economy that have significant opportunities to drive the clean energy transition and help achieve the goals of the Paris Agreement.
The organisation, which represents investors with more than $47tn in assets, said it also wanted the 161 companies to set medium-term objectives to reduce emissions by 45 per cent by 2030 compared with 2010 levels in order to meet their net-zero target — which effectively means reducing overall emissions to zero.
Investors are calling on companies to improve governance on climate change, curb emissions and strengthen climate-related financial disclosures.
|One or two success stories achieved||Royal Dutch Shell released a joint statement with Climate Action 100+ lead investors committing to a range of industry leading climate commitments, including emissions reduction targets taht include scope 3 emissions. Maersk, the world's biggest shipping company, committed to net zero emissions by 2050. Duke Energy Corp. announced plans to reduce GHG emissions by 50% by 2030. These are among a much longer list of commitments reached with focus companies.|
Monitoring and Impacts
|Function of initiative|
|Activity of initiative|
|Goals||Climate Action 100+ is an investor initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. The companies include 100 ‘systemically important emitters’, accounting for two-thirds of annual global industrial emissions, alongside more than 60 others with significant opportunity to drive the clean energy transition.|
|Comments on indicators and goals||Climate Action 100+ has worked with leading data providers to capture the initiative's impact. To this point we have worked with existing metrics, surveys, and research. What is currently available does not cover the full universe addressed by the initiative (some regions, some sectors excluded from available data sets). We continue to work with data providers to get access to company information that will show whether we are making progress in each of the three areas where we are engaging.|
|How will goals be achieved|| Governance: Do companies disclose explicit board-level responsibility for climate policy? Does the company's lobbying activities align with internal climate positions?
Emissions: Have companies set interim emissions targets that will bring them in alignment with the Paris Agreement? Have they developed strategies to achieve these targets? Disclosure: Does disclosure align with TCFD recommendations?
|Have you changed or strenghtened your goals||We are moving toward 1.5 degrees Celsius as the goal, rather than 'not to exceed' 2 degrees.|
|Progress towards the goals|| Our first progress report is available here:
|How are you tracking progress of your initiative|| In March 2021, the first-ever Climate Action 100+ Net-Zero Company Benchmark assessments evaluated focus company performance on climate change. Headline findings include:
- Overall, 83 of the Climate Action 100+ focus companies (52 % of the total) assessed have announced an ambition to achieve net-zero by 2050 or sooner; - 139 focus companies assessed (87%) have board-level oversight of climate change, but only a third of companies tie ‘executive remuneration directly to the company’s emission reduction targets; - Almost three quarters (72% of the total) of companies assessed commit to align their disclosures with the Task Force for Climate-related Financial Disclosures (TCFD) recommendations and/or support the recommendations. However, only 10% use climate-scenario planning that includes the 1.5-degrees Celsius scenario and encompasses the entire company; - While 107 companies have set medium-term targets (2026-2035), only 21 meet all assessment criteria; 75 companies have set short-term targets (up to 2025), but only eight meet all assessment criteria.
Please note that the next Climate Action 100+ Benchmark assessments of focus companies will be published in March 2022.
|Available reporting|| Our first progress report is available here:
|Research and educational organisations||0|
|Non-governmental organisations||4||Joseph Rowntree Charitable Trust (United Kingdom), Sierra Club Foundation (USA), Unitarian Universalist Association (USA), World Resources Institute (USA).|
|Regional / state / county actors||0|
|City / municipal actors||0|
|Financial Institutions||617|| 27four Investment Managers (South Africa), Aargauische Pensionskasse - APK (Switzerland), AberdeenStandard (United K.), Acadian Asset Management (United K.), Achmea (Netherlands), ACTIAM (Netherlands), Addenda Capital (Canada), Aegon (Netherlands), Aegon Asset Management (Netherlands), AG Insurance (Belgium), Æquo – Shareholder Engagement Services (Canada), AGF INVESTMENTS INC(USA), Ahold Delhaize Pensioen (Netherlands), Aktia Bank (Sweden), Ålandsbanken (Sweden), Alberta Investment Management Corporation (Canada), Alecta (Sweden), AllianceBernstein (USA), Allianz Global Investors (Germany), Allianz SE (Germany), Amherst College (USA), AMP Capital (Australia), Amundi (France), AP1 (Sweden), AP2 (Sweden), AP3 (Sweden), AP4 (Sweden), AP7 (Sweden), Asia Pacific Group - APG (Netherlands), As You Sow (USA), ASABRI (Indonesia), ASR Nederland N.V. (Netherlands), Asset Management One Co., Ltd. (Japan), ATP (Denmark), Ausbil Investment Management Limited (Australia), Australian Ethical Investment (Australia), AustralianSuper (Australia), Avaron Asset Management (Estonia), Avenir Capital (France), Aviva Investors PLC (United Kingdom), Avon Pension Fund (United Kingdom), AXA Group (France), AXA Investment Manager (France), Bailard Inc. (USA), Baldwin Brothers Inc. (USA), Bank J. Safra Sarasin (Switzerland), BBC Pension Trust Ltd (United Kingdom), Bernische Lehrerversicherungskasse (Switzerland), Bernische Pensionskasse BPK (Switzerland), BMO Global Asset Management (United Kingdom), BNP Paribas (France), BORDER TO COAST PENSIONS PARTNERSHIP (Canada), Boston Common Asset Management (USA), Boston Trust/Walden Asset Management (USA), BPL Pensioen (Netherlands), Brawn Capital Limited in Hong Kong (China), Breckinridge Capital Advisors (USA), British Columbia Investment Management Corporation (United Kingdom), British Columbia Municipal Pension Board of Trustees (United Kingdom), Brunel Pension Partnership (Brunei), BT Financial Group (Australia), Caisse de Depot et Placement du Québec (Canada), Caisse de Pensions de l’Etat de Vaud (Switzerland), Caisse de pension des sociétés Hewlett-Packard en Suisse (Switzerland), Caisse De Pensions ECA-RP (Switzerland), Caisse de Prévoyance de l’Etat de Genève (Switzerland), Caisse de Prévoyance des Interprètes de Conférence (Switzerland), Caisse des Dépôts (France), Caisse Intercommunale de Pensions (Switzerland), Caisse paritaire de prévoyance de l’industrie et de la construction - CPPIC (Switzerland), CalPERS (USA), CalSTRS (USA), Calvert (USA), Candriam Investors Group (Belgium), CAP Prévoyance (Switzerland), CareSuper (Australia), Cathay Life Insurance Co. (Australia), Cathay Securities Investment Trust Co. (Australia), CaixaBank Asset Management (Spain), Cbus (Australia), CCAP Caisse Cantonale d’Assurance Populaire (Switzerland), CCLA (United Kingdom), Central Finance Board of the Methodist Church (United Kingdom), China Asset Management Company Co. (China), Christian Brothers Investment Services (USA), Christian Super (Australia), Christopher Reynolds Foundation (USA), Church Commissioners for England (United Kingdom), Church of England Pensions Board (United Kingdom), Church of Sweden Asset Management (Sweden), CIEPP – Caisse Inter-Entreprises de Prévoyance Professionnelle (Switzerland), ClearBridge Investments (USA), CNP Assurances (France), Colonial First State Global Asset Management (Australia), Comgest (France), Committee on Mission Responsibility Through Investment of the Presbyterian Church U.S.A. (USA), Connecticut Retirement Plans & Trusts (USA), Core Capital Management (USA), CP Fonct. de Police et des Etablissements Pénitentiaires (Switzerland), CtW Investment Group (USA), Dana Investment Advisors (USA), de Pury Pictet Turrettini & Cie (Switzerland), DWS Investment GmbH (Germany), Devon Funds Management Limited (New Zealand), DNB Asset Management (Norway), Domini Impact Investments LLC (USA), Earth Capital (United Kingdom), East Bay Municipal Utility District Employees Retirement System (USA), East Capital (Sweden), Ecofi Investissements (France), Elo Mutual Pension Insurance Company (Finland), Employees’ Retirement System of the State of Hawaii (USA), Environment Agency Pension Fund (United Kingdom), ERAFP (France), Erste Asset Management GmbH (Germany), Essex Investment Management, LLC
Etablissement Cantonal d’Assurance (Switzerland), Ethos Foundation (Switzerland), Everhope Capital (USA), Evli Bank Plc (Finland), Federal Finance Gestion (France), FIM/S-Bank Wealth Management (Finland), First State Super (Australia), Folksam (Sweden), Fond. métallurgie vaud. bâtiment - FMVB (Switzerland), Fondation de prévoyance Artes & Comoedia (Switzerland), Fondation de prévoyance du Groupe BNP PARIBAS en Suisse (Switzerland), Fondation Leenaards (Switzerland), Fonds de Prévoyance de CA Indosuez (Switzerland), Friends Fiduciary Corporation (USA), FRR (Finland), Fukoku Capital Management (Japan), GAM Investments (Switzerland), Generali Group (Italy), GES International (Sweden), Government Pension Investment Fund (Japan), Grantham Mayo Van Otterloo & Co. LLC (United Kingdom), Greater Manchester Pension Fund (United Kingdom), Green Century (USA), Greentech Capital Advisors (USA), Hamon Asset Management in Hong Kong (China), Handelsbanken (Denmark), Hannon Armstrong (USA), Hermes Investment Management (United Kingdom), HESTA (Australia), HSBC Global Asset Management (United Kingdom), Humanis (France), IFM Investors (Australia), Illinois State Treasurer’s Office (USA), Ilmarinen Mutual Pension Insurance Company (Finland), Industriens Pension (Denmark), Insight Investment (United Kingdom), Investec Asset Management (South Africa), Ircantec (france), Ireland Strategic Investment Fund (Ireland), Ivey Foundation (Canada), JCIR (USA), JCP Investment Partners (Australia), JLens (USA), Kames Capital (United Kingdom), KBI Global Investors (Ireland), Kempen (Netherlands), Kirkon Eläkerahasto (Finland) La Francaise Group (France), Lægernes Pension (Denmark), Länsförsäkringar AB (Sweden), LAPFF (United Kingdom), Legal & General Investment Management(United Kingdom), Local Government Super (Australia), Local Pensions Partnership Investments Ltd (United Kingdom), LocalTapiola Asset Management Ltd (Finland), London Pensions Fund Authority (United Kingdom), Los Angeles County Employees Retirement Association (USA), Lothian Pension Fund (United Kingdom), Luxor Capita Group (United Kingdom), M&G Investments (United Kingdom), MAIF (France), Makalani Management Company Limited (Zambia), Man Group (Germany), Manulife Asset Management (Canada), Maryland State Retirement and Pension System (USA), Meeschaert Asset Management (France), Mercy Investment Services (USA), Merseyside Pension Fund (USA), Metalworking Pension Fund (Germany), Miller/Howard Investments (USA), Mirabaud Asset Management (Luxembourg), Mirova (France), Mistra The Swedish Foundation for Strategic Environmental Research (Sweden), Mitsubishi UFJ Trust & Banking Corporation (Japan), Morphic Asset Management (Australia), MP Investment Management A/S (Denmark), MPC Renewable Energies (Germany), Nathan Cummings Foundation (USA), Natixis Asset Management (France), NEI Investments (Canada), Nest Sammelstiftung (Switzerland), Neuberger Berman (USA), New Alternatives Fund (USA), New York City Pension Funds (USA), New York State Common Retirement Fund (USA), New Zealand Superannuation Fund (New Zealand), Newton Investment Management (United Kingdom), Nikko Asset Management (Japan), NN Investment Partners (Netherlands), Nordea Asset Management (Denmark), North East Scotland Pension Fund (United Kingdom), Northern Ireland Local Government Officers’ Superannuation Committee (Ireland), Northern Pool (United Kingdom), Northern Trust (USA), Nova Scotia Pension Services Corporation (Canada), Nykredit (Denmark), ODDO BHF ASSET MANAGEMENT (Switzerland), OFI Asset Management (France), Öhman (Sweden), Ontario Teachers’ Pension Plan (Canada), OP Wealth Management (Finland), OPTrust (Canada), Oregon State Treasurer (USA), P+DIP/JOEP (Denmark), Pacific View Asset Management (USA), Pax World Management LLC (USA), PBU – Pension Fund of Early Childhood Teachers and Educators (Denmark), Pegaso Fondo Pensione (Italy), Pendal Group (Australia), PenSam /Denmark), Pension Protection Fund (United Kingdom), Pensionskasse Basel-Stadt (Switzerland), Pensionskasse Bühler AG Uzwil (Switzerland), Pensions Caixa 30 (Spain), Pensionskasse Caritas (Spain), PensionDanmark (Denmark), Pensionskasse der Stadt Winterthur (Switzerland), Pensionskasse Römisch-katholische Landeskirche des Kantons Luzern (Switzerland), Pensionskasse SRG SSR (Switzerland), Pensionskasse Stadt Luzern (Switzerland), Pensionskasse Unia (Switzerland), PFA (Denmark), PGB Pension Services (Netherlands), PGGM (Netherlands), Pictet Asset Management (Switzerland), PIMCO (USA), PKA (Denmark), Plato Investment Management Limited (Australia), Praxis Mutual Funds and Everence Financial (USA), Prévoyance Santé Valais - PRESV (Switzerland), Prévoyance.ne (Switzerland), Profelia Fondation de Prévoyance (Switzerland), Progressive Investment Management (USA), Prosperita Stiftung Für die Berufliche Vorsorge (Switzerland), Provident Fund (India), Pyrford International Ltd (United Kingdom), QSuper (Australia), Raiffeisen Bank (Austria), Rathbone Greenbank Investments (United Kingdom), Regnan – Governance Research & Engagement (Australia), Resona Bank (Japan), Retraites Populaires (Switzerland), Reynders McVeigh Capital Management (USA), Richmond Global Compass (USA), RLAM (United Kingdom) Robeco (Netherlands), RobecoSAM (Netherlands), Rockefeller Capital Management (USA), RPMI Railpen (United Kingdom), Ruffer LLP (United Kingdom), Sampension (Denmark), San Francisco Employees’ Retirement System (USA), Sarasin & Partners LLP (United Kingdom), SBI Funds Management Pvt Ltd (India) Schroders (United Kingdom), SDG Invest (Denmark), Seattle City Employees’ Retirement System (USA), SEB Investment Management (Sweden), SEIU Master Trust (USA), Seventh Generation Interfaith Inc. (USA), Shareholder Association for Research & Education (Canada), Sisters of St. Dominic of Caldwell (United Kingdom), Skandia (Denmark), Skoll Foundation (USA), Solaris Investment Management (Australia), Sompo Japan Nipponkoa Asset Management (Japan), South Yorkshire Pensions Authority (United Kingdom), Sparinvest (Denmark), SPF Beheer (Netherlands), St. Galler Pensionskasse (Switzerland), Stance Capital (USA), Statewide Super (Australia), Stichting Pensioenfonds Openbaar Vervoer - SPOV (Netherlands), Stichting Spoorwegpensioenfonds (Netherlands), Stiftung Abendrot (Switzerland), Storebrand Asset Management (Norway), Strathclyde Pension Fund (United Kingdom), Mitsui Trust Holdings (Japan), Swedbank Robur (Sweden), Swell Asset Management (Australia), TD Asset Management (Canada), Terra Alpha Investments (USA), Terre des Hommes (Switzerland), The Joseph Rowntree Charitable Trust (United Kingdom), The McKnight Foundation (USA), The Representative Church Body of the Church of Ireland (Ireland), The Sustainability Group of Loring Wolcott & Coolidge (USA), TPT Retirement Solutions (United Kingdom), Transport for London Pension Fund (United Kingdom), Trillium Asset Management LLC (USA), Trusteam Finance (France), Tundra Fonder (Sweden), UBS Asset Management (Switzerland), Unigestion (Switzerland), Union Investment (Germany), UniSuper (Australia), United Church Funds (USA), University of Toronto Asset Management Corporation on behalf of the University of Toronto (Canada), UNJSPF (USA), USS (United Kingdom), Vancity Investment Management Ltd. (USA), Varma Mutual Pension Insurance Company (Finland), Veris Wealth Partners (USA), Veritas Pension Insurance Co (Finland), VERKA VK Kirchliche Vorsorge VVaG (Germany), Vermont Pension Investment Committee (USA), Vermont State Treasurer’s Office (USA), VicSuper (Australia), VidaCaixa (Spain), Vision Super Pty Ltd (Australia), Walter Scott & Partners Limited (United Kingdom), Washington State Investment Board (USA), Water Asset Management (USA), WaveCrest Wealth Management (USA), Wavestone (France), Wespath Investment Management (USA), West Midlands Pension Fund (United Kingdom), West Yorkshire Pension Fund (United Kingdom), Zevin Asset Management (USA).
|Faith based organisations||0|
|Number of members in the years|| |
|Have only national states as participators||No|
|Transport||Agriculture||Forestry||Business||Financial institutions||Buildings||Industry||Waste||Cities and subnational governments||Short Term Pollutants||International maritime transport||Energy Supply||Fluorinated gases||Energy efficiency||Renewable energy||Supply chain emission reductions||Adaptation||Other||Resilience||Innovation||Energy Access and Efficiency||Private Finance|
Not only have national states as participators