AllianzGI pushes for more climate data ahead of AGM season
Added 02-15-20 07:04:03am EST - “German fund manager Allianz Global Investors is pushing every company it invests in to improve their climate-related disclosures ahead of the season for annual shareholder meetings. Allianz GI, which manages 557 billion euros ($605.18…” - News.yahoo.com
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LONDON (Reuters) - German fund manager Allianz Global Investors is pushing every company it invests in to improve their climate-related disclosures ahead of the season for annual shareholder meetings.
Allianz GI, which manages 557 billion euros ($605.18 billion) as part of insurer Allianz
, said it had updated its Global Corporate Governance Guidelines and would push companies to do more to manage what it said was a critical risk.
Specifically, it wants every company to use the Taskforce for Climate-related Financial Disclosures (TCFD) framework for assessing the impact of climate risk on their business, an initiative kick-started by the Financial Stability Board.
Now with more than 1,000 signatories globally, the TCFD - championed by the United Nations' incoming climate finance envoy, Mark Carney - is seen by many as a crucial tool in helping investors make more informed decisions on climate risk.
Eugenia Unanyants-Jackson, AllianzGI's global head of research into environmental, social and governance-related issues, said she expects to see more shareholder resolutions linked to climate change in 2020, with a broadening out from energy companies to other sectors such as financial services.
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