Van Lanschot Kempen signs statement calling on oil and gas companies to accelerate the energy transition
Lars Dijkstra, Chief Sustainability Officer, has the following comment on the joint statement: ‘Sustainability is embedded in Van Lanschot Kempen's strategy. As a long-term investor, our aim is to create both financial and sustainable value for all our stakeholders. That is why we have committed ourselves to the objective of limiting global warming to +1.5°C.’
Oil and gas companies have an important role to play during the energy transition. They must proactively take action to limit climate damage. Until now, many oil and gas companies are still not embracing sustainability quickly enough or their plans are insufficiently ambitious. We believe it is our duty to focus the sector’s attention on the risks and opportunities that this entails and will do this by means of active engagement. By joining forces with like-minded asset managers, we want to reinforce our call to take action more quickly.’
The statement sets out three core objectives that oil and gas companies should reach by 2024, as well as eight related actions that they should implement. Finally, other investors are called upon to use their voting rights to accelerate the energy transition. You will find the full text of the statement here.
Apart from Van Lanschot Kempen, the group of seven asset managers includes Achmea Investment Management, ACTIAM, Aegon, MN Services (for PMT), NN Investment Partners and PGGM Investments, representing combined assets under management of € 1.48 trillion.
Van Lanschot Kempen has, for some time now, been focusing its efforts on addressing climate change by means of active management and its long-term focus. As an organisation, we have committed ourselves to the Paris climate agreement and the related targets. These targets are embedded in a climate policy in which we, as one of the first asset managers in the Netherlands, have laid down that as from 2050 we will invest only invest in companies with net zero emissions. In accordance with this policy we will also align all our listed investments with the Paris climate agreement by 2025 and will do the same for our non-listed investments by 2030. Furthermore, as an organisation we have set the ambitious target of reducing the CO2 footprint of our investment funds by 7% per year starting in 2022. In addition, we have joined the Net Zero Asset Managers initiative.
About Kempen Capital Management
Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2021, Kempen Capital Management had a total of €88.3 billion in client assets under management.
Kempen Capital Management, part of Van Lanschot Kempen NV, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority.