As scientists warn that time is running out to prevent a cataclysmic rise in global temperatures, Pressure is building on asset managers and asset owners to cut their carbon footprint as. A recent review of the Norwegian wealth fund’s investment mandate pointed to real estate as an area that holds hidden climate risks, Holstad points out that the Oslo-based wealth fund has well defined policies around ESG investing that mean she’s confident the property portfolio is already prepared for the risks ahead. Before any acquisition, the fund screens potential targets for ESG risks, she said. Though Norway hasn’t formally signed its wealth fund up to net-zero goals, Carine Smith Ihenacho, its chief corporate governance officer, said last month that “as a fund, it’s clearly in our interest that the goals in the Paris Agreement are reached. And that includes net-zero emissions by 2050.” Read more
Tags:ESG
