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Environment & Energy Report

Asset Managers Pushing Big Oil to Go Green Seen Lacking Bite

April 29, 2019, 2:20 PM

Asset managers facing a growing demand for environmentally friendly investment are pushing Big Oil to change its ways, but many have no plan for overcoming inaction.

More than 85 percent of fund managers that responded to a survey said they’re urging oil companies to get in line with the Paris Agreement, part of a global effort to compel companies to take action on climate change. Nearly all of the 39 managers, with combined assets under management of $10.2 trillion, said their clients had become more interested in carbon-reduction strategies in the last year.

Yet 57 percent of managers...

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