From CityWire

A group of 19 asset management and investment companies have released a joint statement in opposition to oil and gas exploration activities in the Arctic region.

The group, which is led by ethical investment specialist Mirova and its parent company Natixis Asset Management, oversees a combined €5 trillion in assets.

The signatories have created a statement which is being directed at oil and gas companies involved in the exploration of the Arctic, as well as Arctic Council Members.

It seeks to achieve an unlimited moratorium on activity in the Arctic High Seas, which would help protect the region from future oil exploration and also push climate change efforts.

Commenting on the initiative, Philippe Zaouati, chief executive officer of Mirova, said: ‘We are very proud to lead this new statement, which is a strong commitment from international investors.

‘Along with other members, we call for coherence with national climate change pledges. On the eve of Climate Finance Day in Casablanca, we would like to involve both companies and policymakers so as to take the Arctic issue to the next level and seek greater protection for the region.’

The statement will be sent to Arctic Council Members, Permanent Participants and Observers to the Council, as the Arctic frontier does not pertain to a single sovereign nation.

It would also call upon oil and gas companies to refrain from activity in marine waters covered by ice, as well as areas identified by the Arctic Council as having heightened ecological significance. In addition, it would seek all firms operating in the region to reveal their licences.

The signatories are Actiam, Axa Group, Bank J. Safra-Sarasin, BNP Paribas Investment Partners, Boston Common, Church of Sweden, Danske Capital, EdenTree, Erafp, Friends Fiduciary Corporation, Ircantec, Natixis Asset Management, Nei Investments, Mirova, Prefon, Pax, Skandia, Trillium and Zevin.

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