deVere to double its commitment to environmental investments within 5 years
I’m proud to announce we are doubling our commitment into environmental, social and governance (ESG) investments.
At the start of 2021, we said we would aim to have $1bn in socially responsible investment vehicles within five years. Yet now the goal is $2bn or more within that time.
The news come ahead of COP26 in Glasgow starting at the weekend, where world leaders, industry chiefs and experts will come together in a bid to prevent the worst effects of climate change.
Climate change is most certainly the defining issue of our time, not to mention the major fallout for economies around the world. Looking at the World Economic Forum (WEF) 2020 annual risk report, the top five risks in terms of probability were environmental, and the top four of five risks in terms of impact were both social and environmental in nature.
We can already notice the effect of human-created global warming, and our climate is changing much faster than previously thought.
As such, we only have a small window of opportunity to take action and save the planet. But this will take a lot of time, determination and resources. It will need unprecedented levels of investment, which is why deVere is now planning to position $2bn into ESG investments within five years.
Our new goal is certainly attainable as investors are eager to get ahead of the curve and are open to the opportunities as the world fights to mitigate the environmental, economic and social fallout of the current situation.
Moreover, latest findings show most environmental, social and governance investments are continuing to outperform their non-sustainable counterparts and have lower volatility.
As well as deVere’s $2bn commitment, we are one of the 18 founding signatories of the UN-backed Net Zero initiative that will help to speed up the shift to a net zero financial system. As well as being committed to aligning all relevant products and services to achieve net-zero greenhouse gases by 2050 and to set meaningful interim targets for 2025, we are also aiming to accelerate meeting targets to lower operational emissions in line with limiting global temperature rises to 1.5 degrees Centigrade.
Time is not a luxury we have, we all need to be doing more and doing it quickly.