ESG highlights
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Letters and Statements Investor Sign-on Comment Letter Environmental and Climate Change Canada Methane (ECCC) On February 14th 2024, we commend ECCC’s efforts to adopt cost-effective regulations to achieve at least a 75% reduction in oil and gas methane emissions by 2030 from a 2012 baseline and urge you to move swiftly to adopt comprehensive final standards. European Union Emissions Reduction Target Advocacy On 21st of March 2024, a coalition of institutional investors submitted a formal letter to EU Environment and Climate ministers, advocating for an ambitious greenhouse gas emis- sions reduction target of 90% by 2040 (baseline year 1990). The communication emphasizes that such a target is crucial for enhancing the EU's economic resilience, ensuring energy secu- rity, and maintaining global competitiveness in the transition to a low-carbon economy. Antimicrobial Resistance (AMR) Investor Statement On 22nd of May 2024, as part of the Investor Action on AMR Initiative, a group of institutional investors released a public statement highlighting antimicrobial resistance as a critical systemic risk. The document outlines AMR's potential impact on investment portfolios, economic stability, and global public health.
Investor Statement on Shareholder Rights On May 28, 2024, Nordea Asset Management, along with other investors managing $4.8 trillion in assets, signed the Investor Statement on Shareholder Rights. This statement supports the SEC's role in arbitrating shareholder proposals and expresses concern over litigation that may discourage sustainability-relat- ed proposals. It advocates for constructive dialogue between companies and investors to address concerns, rather than resorting to legal action that could undermine shareholder advocacy in the U.S. Petrochemical Industry Sustainability Statement On 11th of July 2024, a consortium of 70 leading financial institutions, collectively managing or advising USD 6.8 trillion in assets, issued a joint statement addressing the petrochemi- cal sector. The declaration called for a decisive shift towards sustainable practices, emphasizing the reduction of fossil fuel dependency and the elimination of hazardous chemicals in plastics production. Investor Statement to end plastic pollution In Oct 2024, NAM joined 179 other financial institutions in signing an investor statement supporting a legally binding international treaty to end plastic pollution. The statement, collaboratively drafted by UNEP FI, PRI, Finance for Biodi- versity Foundation, Business Coalition for a Global Plastics Treaty, VBDO, and CDP, outlines the financial sector's perspec - tive on essential components for an effective global plastics agreement.
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