With a view to a sustainable economic recovery, Etica Funds has signed an open letter to EU leaders to implement concrete actions for sustainable development after the COVID-19 emergency and to accelerate the transition to a zero-emission economy in line with the Paris Agreement and the EU’s goal of becoming climate neutral by 2050.
The initiative is from the Investor Agenda and the partners are AIGCC (Asian Investor Group on Climate Change), CDP (a network to which Etica Funds belongs), Ceres, IGCC, IIGCC (Institutional Investor Group on Climate Change), PRI (a network to which Etica Funds belongs) and UNEP-FI. Chairman Ugo Biggeri tells us more.
What does the letter ask for?
The world is experiencing an unprecedented pandemic. Italy was one of the first places where the crisis unfolded with its health and then socio-economic effects. Now is the time for reconstruction, and we believe a sustainable and responsible approach is important.
The European Union is currently implementing measures to boost economic recovery. The letter sends a strong incentive to include sustainability considerations
We believe it is essential that climate-related economic and financial risks and the huge investment opportunities presented by the global transition to a net-zero-emission economy be placed at the heart of EU policies.
In particular, we need to:
- focus on people and job creation;
- uphold the commitments made in the Paris Agreement;
- develop government interventions on COVID-19 that factor in climate risk;
- create net-zero-emission and climate resilience economic solutions;
- engage investors in economic recovery plans.
A sustainable economic recovery: Etica’s commitment
At Etica Funds, we set ourselves a very challenging goal: to try to spread our sustainable approach throughout the world of finance with a view to stimulating change.
This is exactly what our Articles of Association say: Etica Funds aims to represent the values of ethical finance in the financial markets and to raise awareness among the public and partners of socially responsible investments and corporate social responsibility.
We believe that Etica Funds is currently leading the way in the finance world with its commitment to the topic of climate change. Our company has always been at the forefront on the issue of climate change and, more generally, the environment. It is a fundamental part of our way of thinking, however, to always assess the environment alongside the social and governance dimension (ESG).
A just transition
This three-dimensional approach, on which we embarked about 20 years ago, is now meeting with growing global recognition, as borne out by the transition to a resilient, low-carbon economy. We believe that divestment is the way forward, but its implications for employment and the wider community should always be evaluated.
Etica Funds therefore intends to pursue a just transition, in line with the 2015 Paris Agreement on Climate Change, in order to accelerate climate action so that the United Nations Sustainable Development Goals (SDGs) can be achieved. To this end, we have signed up to the “Statement of Investor Commitment to Support a Just Transition on Climate Change” campaign. This initiative was created thanks to the relationships developed over many years with the PRI and CDP networks, of which Etica Funds was one of the first members in Italy
Ugo Biggeri, Chairman of Etica FundsResponsible finance coronavirus Sustainability Sustainable and responsible funds