Building Accountability on global investment
Challenge
The world's 15 largest asset managers have $37 trillion of assets under management, a fifth of the total value of world capital markets, giving them huge influence over the global economy. InfluenceMap showed that their portfolios are significantly at odds with international climate targets and only three of the 15 are consistently engaging with companies to align with their business with the Paris Agreement.
Solution
Launched an international media campaign, framing a narrative around the world's biggest asset managers failing collectively to drive forward the transition needed to support the Paris Agreement. Highlighted the leaders and laggards, and explained why it is not good enough to simply discuss climate risk. A social media campaign showed support from former UNFCCC head Christiana Figueres and other financial influencers.
Results
Secured 163 pieces of media coverage for the report, including 91 nationals across 24 countries, with 1.94bn reach. Achieved coverage in key target publications such as Financial Times, Bloomberg Opinion, Reuters Breakingviews, Sky News, DPA and AFP, as well as further follow-up coverage in The Guardian. Impact Billionaire hedge fund manager Sir Christopher Hohn used the study to publicly accuse asset managers of greenwash, and the FT cited the impact of this pressure when BlackRock – the world's largest – joined Climate Action 100+ and announced that it would shift its focus to sustainable investing. The study is regularly cited, maintaining pressure on asset managers to play an active role in meeting global climate targets.
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