Swedish pension fund Första AP-fonden, or AP1, has called on investment managers it employs to speed up their work on climate risks for the fund’s assets.
The move is part of an effort to make the pension scheme’s portfolio carbon neutral over the next 30 years, which includes fossil fuel divestment.
AP1 has introduced measures to manage the fund’s climate risk exposure and has pledged to develop measurable targets and a ‘roadmap’ towards achieving a carbon neutral portfolio by 2050.
The fund has identified and assessed the impact of climate change and the transition to a low-carbon economy on its portfolio.
Urban Hansson Brusewitz, AP1 chairman, said: “An important contribution in the climate issue is to make clear requirements on portfolio companies and our investment managers to accelerate their agenda for managing the climate risk exposure.”
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