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BNP Paribas AM supports climate change lobbying framework
BNP Paribas Asset Management is supporting the development of a framework which will enable investors to assess how much corporate lobbying is aligned with climate change.
The framework, which was also supported by the Church of England Pensions Board, would help to assess corporate lobbying in a relevant and systematic way.
It would seek to ensure that all lobbying efforts were directed at activities which supported attainment of the Paris Agreement, a set of climate change goals. It would also consider how companies could exert influence on the policy process and how these activities could be managed and overseen.
It was expected the framework would be ready by autumn and BNP said companies that had already completed such practices said a tighter governance ensured better value for money in deploying resources in an efficient way.
Helena Vines Fiestas, deputy head of sustainability at BNP Paribas, said: “As shareholders, we expect that when companies engage with public policymakers they will support cost-effective policy measures to mitigate climate change risks and support an orderly transition to a carbon-neutral economy by 2050 at the latest.
“In recent months, BNPP AM has engaged with companies, and filed resolutions, to request greater transparency on their lobbying practices and to be consistent with the goals of the Paris Agreement. This project will help us further refine our dialogue with companies, as how they influence policymaking can help avoid catastrophic consequences – not least financial.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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