LONDON, Feb 26 (Reuters) - Global asset managers controlling trillions of dollars are failing to invest in a way that will protect climate, biodiversity and people, despite efforts by the industry to promote its sustainable finance credentials, the corporate responsibility group ShareAction said on Sunday.
Yet, two-thirds of 77 asset managers surveyed, which control $60 trillion of assets, had "serious gaps in their responsible investment policies and practices," the group found based on an analysis of their policies.
"As managers of tens of trillions of dollars ... their decisions have a vast impact all over the world.
ShareAction assessed managers on several hundred indicators, including their holdings of fossil fuel investments; whether they have set shorter-term emissions reductions targets and how they integrate biodiversity policies into decision-making.
ShareAction also found the portion of managers performing significantly worse than their peers has fallen from 51% in 2020 to 35% in 2023.