(02 September 2015) – International institutional investors with assets worth more than €61 billion have called on nine multinational energy and mining companies to leave EU lobbying associations, because of their “regressive” climate change policies.
The Brussels-based associations include BusinessEurope, The European Chemical Industry Council (CEFIC), FuelsEurope, Eurométaux (the European Association of Metals), and the International Association of Oil and Gas Producers.
The 25 global institutional investors include pension funds, trusts, and foundations from three continents. Last month, they wrote to nine publicly listed FTSE 100 giants – BHP Billiton, BP, EDF, Glencore, Johnson Matthey, Proctor and Gamble, Rio Tinto, Statoil and Total. Each is a member of at least one of the associations.
The investors include AP4, the Swedish National Pension Fund (€31 billion under management), and the British UNISON Staff Pension Scheme. Sarasins and Partners (UK, €19 billion), The Pensions Trust (UK, €8.7 billion) and Australian Ethical Investment (€546m) also signed. (EurActiv)