Country: Netherlands
Recent move by the pension manager reignites the debate over divestment, with CalPERS saying it will remain engaged with Exxon Recent move by the pension manager reignites the debate over divestment, with CalPERS saying it will remain engaged… Recent move by the pension manager reignites the debate over divestment, with CalPERS saying it will remain engaged with Exxon
Jan 12th, 2021
MN has said that Exxon could make it back into its portfolio in the future if it steps up its approach to climate change, after the fund announced it had exited the US oil major last week.
The manager for €87bn Dutch metalworker pension fund PMT decided to dump shares in Exxon, which has a longstanding reputation as a laggard on climate issues, despite the company having recently bowed to investor pressure and published its Scope 3 emissions data, relating to the carbon footprint of Exxon customers.
Karlijn van Lierop, MN’s Head of Responsible Investment told RI: “We [PMT and MN] are definitely open to welcoming the company back into our portfolio once it makes progress towards Paris alignment, so we will continue to monitor progress and remain in contact with other investors who are engaging with the company.”
According to MN, a request to publish Scope 3 data was also among a list of demands sent to Exxon last November as PMT was in the…