United Nations Joint Staff Pension Fund fully divested from Coal Energy Sector
18 September 2020
Coal energy sector has been removed from all asset classes of the UNJSPF assets since 1 September 2020.
This divestment comes earlier than planned, as the Office of Investment Management (OIM), in charge of the UNJSPF Assets, had pledged in September last year to divest from investments in publicly traded companies in the coal energy sector by 31 December 2020 (see here).
“This is a major step that shows our commitment to sustainable investing” said Pedro Guazo, Representative of the Secretary-General for the investment of the UNJSPF assets.
Divesting from coal is demonstrating OIM’s support to the global energy system scenario consistent with the 2015 Paris Agreement and its contribution to the attainment of the 2015 United Nations Sustainable Development Goals (SDGs).
“We now have no more exposure to coal in the energy sector which is becoming less economically viable, posing a sustainability and financial risk to our portfolio”, Mr Herman Bril, Director of Investments of OIM, added.
The mission of OIM is to contribute to the global mission of the United Nations family of organizations, by ensuring the long-term financial sustainability of the United Nations Joint Staff Pension Fund.
OIM strives to ensure that all of its activities integrate the principles of sustainable investing, including taking into account environmental, social and governance (ESG) metrics, while remaining entirely consistent with its fiduciary responsibility to meet our long-term investment objective. OIM is a top scorer in terms of sustainable investing (see here to learn more).