Investors target Tesco, British Airways and Drax Group with new industry engagement initiative

IIGCC launches NZEI

The Institutional Investors Group on Climate Change (IIGCC) has today (27 March) launched the Net Zero Engagement Initiative (NZEI), a new movement to fast-track climate-related investor stewardship and engagement activities.

Large British companies such as Tesco, British Airways and power generator Drax Group have been included in the extension of the Climate Action 100+ focus group, which seeks to engage with assets accounting for 70% of financed emissions. Among the 93 investors agreeing to participate are large asset managers Allianz Global Investors, BNP Paribas Asset Management, Fidelity, Legal and General Investment Management, M&G and Schroders. Action for engagement The NZEI kicked off with 107 corporates being sent letters from the relevant investors from the new initiative, outlining their exp...