BT Funds Management New Zealand (BTNZ), the managed fund business of Westpac NZ, has partnered with Legal & General Investment Management (LGIM) to develop a climate investment strategy.
The objective of the alliance is to bring BTNZ’s portfolio into alignment with climate goals, according to the two firms.
The announcement which comes in the middle of the COP26 international climate conference and is also designed to appeal to the growing demand among New Zealand investors for responsible investing options.
“The recent UN emissions gap report is alarming and shows that inaction is no longer a viable option for any financial institution,” said Mike Walsh, head of strategic partnerships at L&G.
“Investors like Legal & General and BTNZ, have a responsibility to work together to accelerate change if we are to keep the 1.5C threshold in sight.”
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