Hohn: Net-zero by 2050 is 'a joke' as faster action needed

Hedge fund manager criticises slow action by asset managers and calls for better nearer-term targets

Pension funds should fire asset managers if they fail to take sufficient action on climate change, and actively work to put an end to dirty finance, according to hedge fund manager Sir Chris Hohn.

Speaking at Incisive Media's Sustainable Investment Festival on 23 June, Hohn, who is founder of The Children's Investment Fund Management and the 'Say on Climate' initiative - which forces companies to better disclose emissions - said asset owners should "wake up" and put pressure on asset managers and to take aggressive action. He is concerned that while some pension funds have been more proactive - such as the Local Authority Pension Fund Forum which has supported ‘Say on Climate' - in general there has been tremendous passivity among asset owners because "they think asset managers wi...