BCI will target a cumulative $5 billion investment in sustainability bonds and reduce the carbon exposure in its global public equities portfolio by 30% by 2025, from a 2019 baseline.
The additional capital will facilitate strategic growth as Arlington expands an existing base of global limited partners, provides additional investment vehicles to investors and further invests in organization and infrastructure, the firm said.
The U.S. Securities and Exchange Commission should begin using its authority to mandate climate-related disclosures in order to address climate-related risks to investors, the economy, and the public.
“Now is not the time to add even more to taxpayers’ burden,” the mayor wrote, adding that the bill would mean “raising taxes on Chicagoans now and in the future.”