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Calling for Paris-alignment
North is owned by AMP Capital. AMP has not demonstrated any evidence that it has called on any specific company to alter its strategy to bring it into line with the climate goals set out in the Paris Agreement. AMP had the opportunity to do just that at Whitehaven Coal’s October 2018 Annual General Meeting. However, AMP has not told members how the fund voted on a resolution expressing an opinion that Whitehaven’s strategy should align with the Paris climate goals.
AMP is a member of the Climate Action 100+, which aims to encourage 100+ emissions-intensive companies to “Take action to reduce greenhouse gas emissions across their value chain, consistent with the Paris Agreement’s goal of limiting global average temperature increase to well below 2-degrees Celsius above pre-industrial levels.”
North is owned by AMP Capital. AMP Capital has conducted and disclosed scenario analysis, which quantified greenhouse gas emission investment risk in the ASX200 Index and AMP’s own Sustainable Australian Equity Fund. While this is a good start, this research must be extended to encompass all asset classes (not just shares) and all options. AMP Capital has also conducted and disclosed research into the carbon footprint of the fund’s investment portfolio. The fund’s research and analysis should demonstrate an active reduction of AMP’s exposure to fossil fuels over time.
Climate voting record
North is owned by AMP Capital. AMP Capital voted for just 17% of climate-related shareholder resolutions at Australian companies in 2017 & 2018. AMP Capital does not disclose its voting on resolutions at international companies.
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