Nuveen on Monday announced several initiatives to deal with the impact of climate change on investment portfolios.
One is partnering with climate researchers to educate its more than 500 investment professionals, focusing on the physical and transition risks associated with climate change.
The $1 trillion asset manager also joined Climate Action 100 Plus, an initiative of 450 investors with over $40 trillion in assets under management, engaging with global companies to help achieve the goals of the Paris Agreement on climate change.
On climate research, Nuveen is working with several specialized climate research organizations to model the physical impacts of climate change on investment portfolios across municipal bonds, real estate and real assets. The firm also is collaborating with the United Nations-supported Principles for Responsible Investment's Inevitable Policy Response initiative, to track the policy and regulatory landscape.
According to PRI CEO Fiona Reynolds, policy responses "with the potential to be forceful, abrupt, and disorderly — creating major winners and losers within investment portfolios" — could emerge by 2025.
"These initiatives are just the latest evidence of our ongoing commitment to helping investors manage climate change's impacts, both emerging and long term," Nuveen CEO Jose Minaya said in the statement.