Commitments are a sign of institutional intent, which have to translate to action,” said Eniko Horvath, head of climate at the Principles for Responsible Investment.
As COP26 got underway, it was of little surprise that several press releases were released announcing firms signing up to NZAMI.
Several sessions within COP26 are on whether divestment is still the right strategy for asset managers in their role to achieve net zero.
Nelson agrees divestment is not the right strategy and highlighted that oil and gas will not have an “overnight revolution” towards green energy, but they are striving towards a net zero goal.
A spokesperson from the firm explained: “Ninety One is committed in every respect to helping bring about a sustainable future.
However, Nelson acknowledged to Investment Week that this shift to engagement leaves the door open to more greenwashing than ever before.
He noted the IPO of Ben Creek Group, the owner of a metallurgical coal mine in October.