Ceres applauds the UK Chancellor’s new requirement that asset managers, asset owners and listed companies publish transition plans for decarbonizing by 2050 or sooner, calling it ‘essential’ in global efforts to achieve a net zero economy.
Kirsten Spalding, Senior Program Director of the Ceres Investor Network, said: “The UK’s new policy is making mandatory what Ceres and the other founding partners of the Investor Agenda have long called for, that every institutional investor develop and implement Investor Climate Action Plans for decarbonizing their portfolios by 2050 or sooner and reaching interim emissions reduction targets by 2030. The US government and governments around the globe should follow the UK’s lead. As the world confronts ever increasing suffering and financial losses from climate disasters, governments must move faster to put the right policies and regulations in place, and investors and companies must shift from commitment to real action.”
Through the Investor Agenda, Ceres helped to develop the Investor Climate Action Plans (ICAPS) Expectations Ladder and Guidance to provide investors with clear expectations for developing and implementing ICAPS, wherever they are on their climate journey.
Ceres continues to work with North American-based investors in the Ceres Investor Network and those beyond who have made net zero commitments through the Paris Aligned Investment Initiative and the Net Zero Asset Managers initiative to develop robust, actionable plans.
About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. Ceres is a partner of Climate Action 100+, The Investor Agenda, the Net Zero Asset Managers initiative, and the Paris Aligned Investment Initiative. For more information, visit ceres.org and follow @CeresNews.