Wespath and BlackRock Collaborate to Launch New Low-Carbon Economy “Transition Ready” Investment Strategy
Wespath Benefits and Investments (Wespath) and BlackRock, Inc. have launched a new approach to low-carbon investing. The “Transition Ready” strategy seeks to deliver long-term competitive financial returns relative to standard performance benchmarks and directs capital to companies best positioned to facilitate the global transition to a low-carbon economy. The strategy was co-designed by Wespath and BlackRock, and incorporates proprietary data and insights to evaluate a company’s transition readiness.
Wespath, which invests over $23 billion on behalf of United Methodist pension participants and institutions, has committed $750 million across US domestic and International equity market accounts, replacing a portion of its market cap-weighted index exposures. “As a fiduciary, we believe companies positioned to benefit from the transition to a low-carbon economy are attractive long-term investments,” said David Zellner, Wespath’s Chief Investment Officer. “Capturing a return premium associated with these risks and opportunities required a new and innovative approach.”
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