Aiming for A

Aiming for A

During 2015/16 the “Aiming for A” investor coalition continued to undertake in-depth engagement with the ten largest UK-listed extractives and utilities companies, alongside expanding to become pan-European and ultimately merging into IIGCC in 2016/17. The coalition pioneered “strategic resilience for 2035 and beyond” shareholder resolutions, while using CDP performance bands and sector analysis as an initial benchmark. There are several reasons why UK asset owners and managers came together to support these companies in their preparations for the low-carbon transition. These range from systemic risk management and their collective fiduciary duty to engage in economic transformation, through to amplifying longer-term investor voices and involving ultimate beneficiaries. The coalition was initially convened by CCLA Investment Management in 2011/12, and at the time of the merger into IIGCC included the Local Authority Pension Fund Forum and the largest members of the Church Investors Group, together with Hermes Investment Management on behalf of its UK stewardship services clients, Sarasin & Partners, Pensions Trust and Rathbone Greenbank Investments. The coalition worked closely with the PRI and the Global Investor Coalition on Climate Change’s Carbon Asset Risk initiative, and was one of the forerunners to the Climate Action 100+.

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