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Rakesh  Sharma's picture
Journalist, Freelance Journalist

I am a New York-based freelance journalist interested in energy markets. I write about energy policy, trading markets, and energy management topics. You can see more of my writing...

  • Member since 2006
  • 1,019 items added with 704,943 views
  • Mar 12, 2021
  • 487 views

Here's another framework to achieve net zero emissions by 2050. This one belongs to the Institutional Investors Group on Climate Change, which collectively manages $33 trillion in assets. The hope, at least, in such initiatives is that the threat of withholding investments will spur action. Unfortunately, this framework is self-reporting, meaning companies can choose the metrics for reporting. So, the funds or their constituents can greenwash their findings. There's also the question of putting money where your mouth is. Developing frameworks is the easy part; putting money towards climate change and ESG initiatives is the crux of the matter. CalPERs, America's biggest pension fund, put a measly $1 billion (from $366 billion in assets under management) for ESG initiatives in 2019. Still, its progress. 

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