Fidelity Plans to Halve CO2 in Investment Portfolios by 2030
- Companies given three years to comply or face divestment
- Finance sector under huge pressure to stop enabling polluters
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Fidelity International unveiled plans to halve the carbon footprint of its investment portfolio by 2030, becoming the latest in a string of fund managers to make such pledges as the industry faces growing calls to stop enabling toxic emissions.
The London-based firm, which manages more than $785 billion, is a founding member of the Net Zero Asset Managers Initiative. The group has committed to achieving net-zero greenhouse gas emissions by 2050, with Fidelity International part of a cohort that needs to provide a 2030 plan ahead of the COP26 climate talks in Scotland next week. Fidelity International said Tuesday it plans to phase out its exposure to thermal coal by 2040, as part of its net-zero pledge.