Pendal joins Climate League 2030 to support emissions reduction
PENDAL has joined Climate League 2030, a new private sector-focused initiative to support emissions reduction in Australia.
Launched today, Climate League 2030 is a ten-year plan which aims to address climate change in Australia in line with the Paris Agreement goals.
The initiative — backed by Pendal Group and 15 other institutional investors — is co-ordinated by a collaboration of Australian and New Zealand institutional investors known as the Investor Group on Climate Change.
The League supports efforts to mitigate systemic risks that climate change poses to the economy and our communities. It also promotes new job and investment opportunities as part of the transition to net zero emissions.
Pendal will commit with other investors — and soon companies, banks and insurers — to take action on reducing annual emissions by at least 230 million tonnes before 2030.
This represents a 45 per cent reduction in Australia’s emissions compared to 2005.
The reduction could be even greater based on different emissions projections for 2030, such as recent federal government data that includes a number of new assumptions about mitigation policy outcomes.
The initiative aims to galvanise private sector action to help shift Australia’s emissions trajectory towards a 2030 outcome consistent with the Paris Agreement and the best available science on keeping global warming to 1.5 degrees celsius.
We look forward to sharing more in time about our participation in this initiative, as part of our broader responsible investment and stewardship activities.
Watch the short video about Climate League 2030 above or red the visit www.climateleague.org.au to find out more.
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