ISP’s participation in dialogues with companies on climate, human or labor rights often leads to positive results. However, there are cases where the dialogue is fruitless – or is not likely to bear fruit within a manageable time frame. Therefore, a further eight fossil energy companies are now excluded.
“It is very often full of dilemmas when we throw away an investment, as we simultaneously throw away our influence as a shareholder. On the other hand, there are limits to how long we can be in dialogue about, for example, a climate strategy, before we have to see concrete results,” says Jacob Ehlerth Jørgensen, head of responsible investments, and continues:
“We have set a deadline for the dialogue, so that the fossil energy companies must have a sufficient climate strategy no later than when they report for 2025, which makes it likely that the company can meet the requirements for zero emission of greenhouse gases by 2050 at the latest.”
The new exclusions concern eight Asian and American companies, so that a total of 35 so-called oil and gas companies are now excluded. There are 11 fossil companies left in the portfolio, predominantly European. There is dialogue on climate measures with the 10 companies.
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