Activist investors do not always have a great reputation for their support for broader societal goals. But that is starting to change as some of them are now also focusing on climate change as an area needing more attention. A recent effort by The Children’s Investment Fund Foundation (CIFF) has contacted several asset managers requesting that they “highlight the need to ensure companies publish climate transition action plans and put these to an annual shareholder vote.” The announcement goes on to note that “it is essential for companies to publish a credible action plan to show how they will survive and prosper during this transition.”
There is a bit of personal interest in this effort as CIFF was a key player in the eventual breakup of the ABN AMRO where I worked for more than 25 years. And ABN AMRO was a bank that actively pursued sustainability issues including taking a leading role in the development of the Equator Principles. One wonders if Sir Christopher Hohn of CIFF sees any irony between his current demands and his support for the ending of the ABN AMRO?
