Mirova and Natixis Asset Management as well as 17 other international investors representing over €5trn in assets under management are leading a call seeking an unlimited moratorium on oil and gas activity in the Arctic high seas.
Mirova, Natixis Asset Management and three other investors, including Erafp, Ircantec and Prefon, lead an investment group in a statement relating to oil and gas exploration in the Arctic featuring 19 international signatories in total including Actiam, Axa Group, Bank J. Safra-Sarasin, BNP Paribas Investment Partners, Boston Common, Church of Sweden, Danske Capital, EdenTree, Friends Fiduciary Corporation, Nei Investments, Pax, Skandia, Trillium and Zevin.
This statement is directed to oil and gas companies that have been involved in oil exploration in the Arctic, as well as Arctic Council members. It is an urgent call to protect the Arctic from future oil exploration activities and align national climate change pledges with the future of the region, which hosts significant hydrocarbon resources.
Mirova CEO Philippe Zaouati explained: “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 to ask for an unlimited moratorium on any oil and gas activity in the Arctic high seas, the ultimate Arctic frontier that does not pertain to any single national sovereignty.
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