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Pension Funds Point Finger at Lobbyists of Polluting Companies

  • Oil, industry giants called on to cut anti-climate lobbying
  • Investors pushing for consistency with Paris Agreement goals
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Photographer: Chris Ratcliffe/Bloomberg

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A group of pension funds that control $2 trillion are pushing for 55 large European energy, mining and transportation companies to scale back their anti-climate lobbying.

Sweden’s AP7, Legal & General Group Plc, the Church of England’s pension fund and Robeco of the Netherlands wrote to the chairman of each company, asking them not to use organizations that try to ease governments’ environmental rules and to be transparent about their own lobbying. The list of recipients includes 10 oil and gas companies such as Royal Dutch Shell Plc and Total SA as well as Renault SA, Glencore Plc and Airbus SE.