Pension funds challenge EU companies on climate lobbying

    Two major European pension funds have challenged large companies over lobbying positions that are inconsistent with the goals of the Paris climate deal.

    Sweden’s SEK608bn (€62bn) AP7 and the £2.3bn (€2.6bn) Church of England Pensions Board (CEPB) have today written to the chairs of 55 European companies to push them to review the lobbying practices being adopted by their trade associations and lobbying organisations.

    “If these lobbying positions are inconsistent with the goals of the Paris Agreement, we would encourage you to ensure they adopt positions which are in line with these goals,” the letters continued.

    The investors also urged the companies to be transparent about their own policy positions and how they ensured these were implemented in their direct and indirect lobbying activities.