The OFI AM investment management firm undertakes to eliminate thermal coal from its portfolios

by | 2 Sep 2020

Certain media, among which was Rankia Pro, reported the commitment expressed by the investment management firm OFI AM to fully eliminate thermal coal from its investment portfolios by 2030. This measure has been taken in the context of climate emergency and, in particular, in response to the need to accelerate and intensify the efforts to reach the goals of the Paris Agreement to slow down global warming.   

According to the head of responsible financing at OFI AM, Alain Pitous: «Our policy goes hand in hand with an approach towards active commitment by the socially responsible investment (SRI) teams of OFI AM, designed to encourage businesses that develop new projects to put a stop to them, and to those who have thermal coal assets, to embrace and implement plans to gradually close down their thermal coal infrastructure».

On his part, Jean-Pierre Grimaud, CEO of the OFI group, stated that:  «As an asset management firm, this is a firm conviction, a social mission, a responsibility and important commitment we assume towards our clients and partners. It is also an evident decision, insofar as our shareholders, who also share a strong commitment towards climate action, trust us and support our initiative ».

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