DWS has launched its report ‘Experts on Climate Change’, written in conjunction with experts from the UK’s scientific, legal, actuarial, accounting, and investment consultant communities.
The report offers a comprehensive overview of the actions that institutional investors should take to manage climate risk and how they can use their influence to accelerate the shift to a sustainable society.
DWS led a group that includes: climate scientist with the British Antarctic Survey, Emily Shuckburgh; law firm Pinsent Masons; business and financial adviser Grant Thornton UK LLP and Redington, the investment advisor.
DWS’s contribution to the Climate Experts report focuses on presenting the practical actions that asset owners can take across the areas of: investment, corporate engagement, policy advocacy and investor disclosure.
Petra Pflaum, chief investment office for Responsible Investments at DWS, said: “The aim of this report is to encourage all institutions to take stronger action to address climate change. Climate change should be analysed and valued like other risks. Divesting, or over/underweighting stocks only shifts financial risk and does not truly change real CAPEX decisions unless investor influence is also used to encourage companies to integrate ESG factors into their strategy and policy makers to improve policies. A growing number of asset owners are setting engagement expectations.”
Throughout 2018 DWS has continued engagement and voting efforts on environmental and climate change issues. Our focus on climate change related proposals has yet again been robust this year and we will continue advocating the consideration of societal impact with the companies we are invested in.
Pinsent Masons focused on the background to trustees’ attitudes to climate risk, the current position with regard to trustees’ duties, and what action needs to be taken.
Grant Thornton offered an actuarial and audit perspective on climate change – and why it is relevant professionally.
Redington provided the investment consultant perspective and outlines some of the questions that asset owners should ask of their investment consultants and asset managers about management of climate risk.