To be made publicly available?
LONDON, Oct 19 Reuters - BlackRock Inc. has thrown its weight behind a plan to provide free in-depth information on how thousands of companies are adapting to the transition to a low-carbon economy.
Ahead of the COP 26 global climate talks in Glasgow, BlackRock said it backed a plan to scale up Transition Pathway Initiative, an asset-owner project set up in 2017 that aims to assess companies' response to climate change.
The move comes as more global investors make their own pledges to net-zero carbon emissions across their portfolios — a commitment that requires in-depth analysis of the disparate climate plans of the companies in which they invest.
Under the plan, the number of companies assessed by the TIP will jump to 10,000 from 400, through the creation of a TPI Global Climate Transition Center at London School of Economics and Political Science.
As well as expanded coverage of financial markets, the initiative will also cover corporate debt and government bonds.
This TPI Centre will directly underpin the global climate transition by enabling investors to take action and judge climate performance through the same lens, said Adam Matthews, chair of TPI.
It will be a critical component of the post Glasgow COP financial infrastructure enabling investors to deliver on their commitments. Matthews continued:
The inclusion of BlackRock takes the number of asset managers backing TPI to 110 with combined assets of $40 trillion.
We consistently hear from investors around the world on the need for quality data to inform decision making, so we are happy to support TPI as it scales its analysis to provide valuable input, said Sandy Boss, head of BlackRock Investment Stewardship.