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Among the 24 founding signatories of the declaration, launched in Glasgow today as the COP26 summit continues, are Friends Provident Foundation, WWF UK, Jesus College Cambridge, and Joseph Roundtree Charitable Trust.
Signatories commit to using the declaration’s eight minimum standards in investment manager reviews and tenders to help establish them as market norms.
The minimum expectations include that asset managers have an investment strategy to achieve a 45% emissions reduction by 2030 at the latest, have coal exclusion thresholds aligned with the Global Coal Exit List, and a presumption to vote in favour of all climate resolutions brought by shareholders at company AGMs and provide an explanation for any votes against.