Good climate-testimony for the IUC – with restrictions

pension funds to spur their investments in coal-, gas -, or oil industry, climate change. This also applies to the BVK , the pension Fund of the Canton of Zurich, with 121'300 Insured and total assets of 32 billion Swiss francs, the largest in Switzerland.

After all, The IUC is in a comparatively good. In a issued in February, pension Fund rating to the WWF responsible Investing is among the group of "followers", that means: the second-best category.

concrete goals

is New even in the top group of the "pioneer" of her urban counterpart, the pension Fund of the city of Zurich (PKZH). Also because she has recently decided to take their investments out of 62 companies from the fossil withdraw. The exclusion criteria were: coal production, or a share of electricity from coal, over two-thirds.

And the IUC? Has coal excluded conveyors even as early as 2016. Not primarily, to climate change to thwart, but to minimize investment risks. Because fossil fuel investments could be in the future for the mortgage, when due to new regulations, less fossil energy carriers can be promoted.

What is the PKZH power according to the WWF study, better than the BVK, objectives are the concrete reduction: by 2024, the municipal pension Fund, the pension assets of 33'500 employees and 18'500 retired managed wants to halve its CO2 footprint in comparison to the year 2016.

"The IUC, with its huge volume of investment is an important lever to protect the climate in an important move forward."Sonja Gehrig, GLP-certain day,

Such concrete goals, and transparency on their performance would also be for the cantonal pension Fund is desirable, says Sonja Gehrig, GLP-certain day from Urdorf. "The IUC, with its huge volume of investment is an important lever for climate protection to bring significant progress," she says. You think it would be, therefore, appropriate that the IUC exits not only from the coal, but also from other industries such as oil and natural gas production.

Gehrig made with the elected councillor Martin Neukom (Green) and Jonas Erni (SP) in the cantonal Parliament a request to the government, such as the IUC remember his climate to minimize risks. The government further pushed the Ball to the BVK, because the influence of the government and of the Canton to be low.

What really works?

In his reply, given that the IUC now to the exclusion of other fossil-fuel industries a cancellation. It emphasizes the ineffectiveness of such measures, as far as the climate, the shares would then be bought by other investors.

The Gehrig not apply. "Thus, the IUC pushes the responsibility," she says. If, in fact, many pension funds stopped investing in an area that could be impacted on the share price of firms and thus the Actions of the management.

"With a strategy that excludes conscious of certain sectors, we would steal us from the responsibility."Answer the pension Fund BVK

the Latter also wants the IUC, however, with the opposite strategy "With a sustainability strategy, which excludes conscious of certain sectors, would steal the IUC from the responsibility," writes the pension Fund. With divestment in the fossil fuel energy they would deprive carriers of the opportunity to actively influence.

"reactive strategy"

Thus, the IUC says the strategy is to draw with your right to vote as a shareholder of the company in a more climate-friendly direction. "This commitment-approach has a certain permission," says Sonja Gehrig. However, he had clear limits. Because often you wait too long, with the exit, although it becomes clear that the voting could result in no change.

"The IUC drives generally a reactive strategy," says Gehrig. The pension Fund, wait for new regulations and adjust their behavior, rather than as a good example. "Now would be the time to prove the courage to think long-term and much more CO2-intensive companies to get out." (Tages-Anzeiger)

Created: 03.05.2019, 16:30 PM