Aktia Bank joins the ASCOR Project Advisory Committee representing over US $5 trillion.

The ASCOR Project – backed by the BT Pension Scheme (BTPS), the Church of England Pensions Board, the UN-convened Net Zero Asset Owner Alliance (AOA), Ceres, the Institutional Investors Group on Climate Change (IIGCC), the Principles for Responsible Investment (PRI), the Transition Pathway Initiative (TPI), supported by Chronos Sustainability – has been established to provide investors with a common lens to understand sovereign exposure to climate risk and how governments plan to transition to a low-carbon economy.

The tool will enable the current and future climate change governance and performance of sovereigns to be fairly and appropriately measured, monitored and compared. This assessment framework will then be used to produce an annual public assessment of the climate change governance and climate change performance of sovereigns.

Today, the ASCOR project welcomes Aktia Bank, Amundi, Colchester Global Investors, Franklin Templeton, MFS Investment Management, Ninety One Plc and Wells Fargo Asset Management to the ASCOR project Advisory Committee. These investors will support the development of the framework, bringing with them their investment experience and knowledge of climate change assessment frameworks for sovereigns. The ASCOR steering committee also welcomes SURA Asset Management, Latin America’s largest pension fund provider, adding to the project’s international investment representation.

Work on the detailed design of the ASCOR tool will commence in October 2021, and a dedicated website is expected to be launched in mid-2022.