In line with the responsible investment principles we have adhered to for some time, and in accordance with the commitment made when signing the Paris Pledge For Actions, which came into being following the historic COP21 agreement of 2015, we have developed a strategy to define our commitment to mitigating climate change and transitioning to alternative energies to coal and fossil fuels.
It comprises the following pillars:
- Divesting: divestment from a number of companies regarded as critical for the high intensity of coal in their production cycle, a measure that also aims to send out a message to the market
- Engaging: dialogue with issuing companies in order to encourage their conversion to more efficient and less harmful production systems
- Investing: financing for companies in the renewable energies sector in order to directly support a low carbon economy.
In 2017 a carbon footprint analysis will be available for all of the Group’s financial assets together with the calculation of the CO2 emissions associated with every company in our portfolios. This represents the basis for our strategy, which will propose specific improvement actions.