OMGI responds to G7 leaders’ fossil fuel pledge
OLD MUTUAL GLOBAL INVESTORS CALL FOR CLARITY AND CONSISTENCY FOR INVESTORS ON MAP TO PHASE OUT FOSSIL FUELS
Old Mutual Global Investors welcomes the G7 Leaders’ pledge to phase out the use of fossil fuels by the end of the century. As a responsible investment management business, the business welcomes the opportunities for the investments that will be required to make the transition from carbon-based fuels.
Paul Emerton, Head of UK Stewardship & Governance at Old Mutual Global Investors comments: “The G7’s pledge that fossil fuel use should cease by the end of the century is a positive step.
“Before fossil fuels can be phased out, there needs to be widespread investment in alternatives combined with a political will.
“For investors, there is a need for certainty. Once policy on reducing fossil fuel is determined, it must not be undermined by changes which weaken the investment case and our clients’ willingness to invest.
“From politicians, we must be assured that they are bringing their populations with them, that leaders are persuading their countries that change is needed and alternatives are available.
“Demand for fossil fuel is driven by consumers: if consumers and their leaders accept and mandate change in our energy systems to zero carbon, the long term threats of dangerous climate change can be avoided. “
Vee Montebello, Head of PR and Internal Communications 020 7332 7687
Notes to Editors:
Old Mutual Global Investors:
Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £21 billion¹. The team consists of 214 industry professionals, including a team of 51 investment professionals. As part of Old Mutual Group it has a strong financial parent to support the activation of its business strategy. Old Mutual Global Investors is the asset management division of Old Mutual Wealth. To find out more information please go to: www.omglobalinvestors.com
Old Mutual Wealth:
Old Mutual Wealth is a leading retail investment business in the UK and internationally that aims to help people secure their financial future.
It has an adviser and customer offering spanning:
- Financial advice via the Intrinsic network and independent financial advisers
- Platform based wealth management products and services via Old Mutual Wealth in the UK and Old Mutual International globally
- Asset management solutions via Old Mutual Global Investors
- Discretionary investment management via Quilter Cheviot
Old Mutual Wealth currently oversees £82.5¹ billion in customer investments.
Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 16 million customers across the world and has a total of £319.4 billion¹ assets under management.
¹as at 31 December 2014