Big Oil and asset managers sign carbon accords

Chief executives from major energy firms and asset managers have signed agreements on carbon pricing and carbon-risk disclosure following a two-day summit held at the Vatican.

Executives from around 70 firms attended – including BNP Paribas, BlackRock, BP, Shell, Exxon, and Hermes Investment Management – in an effort to create a dialogue between the Pope, Big Oil, and investors.

The summit was organised by the Vatican and the University of Notre Dame.

According to the Pontiff, carbon pricing is “essential if humanity is to use the resources of creating wisely”.

The head of the Roman Catholic church declared that the world is in the midst of a “climate crisis” – a sentiment shared by London-headquartered Hermes chief executive and co-signatory Saker Nusseibeh.

“The environmental crisis that we currently face with regards to global warming demands urgent action”, Nusseibeh said. 

‘The Vatican Dialogues: The Energy Transition Care for our Common Home’ summit focused on three main points:

  • A “just” transition to a low carbon economy
  • Introducing “reliable and meaningful” carbon pricing
  • Transparency in reporting climate risks

©2019 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST