'If you want to manage our money join climate alliances'

"As owners of assets representing $3.7 trillion in assets, we remain deeply concerned about the growing and systemic risks that climate change poses to the global economy, markets and our portfolios." And the beginning of the document signed by more than 50 European institutional investors and published on the website of the Brunel pension partnership.

From the Swedish pension fund Ap2 to the British insurance company Aviva, to the welfare institutions of the churches of England, Finland and Sweden. A large group of asset owners (there are no Italians) who put some stakes in the 'investment partners'.

"In line with our fiduciary obligations to clients and beneficiaries to mitigate financial risk and maximise the long-term value of assets, we call on our investment partners to ensure that they are prepared and committed to managing these risks responsibly and transparently on our behalf," the document reads.

Among the requested commitments is to become a signatory of the Net Zero Asset Managers (Nzam), the coalition of fund managers aiming to reduce CO2 emissions. "Nzam's updated commitment statement," reads the open letter on Brunel's website, "represents an opportunity for asset managers to reaffirm their commitment to support investments aligned to the global net zero emissions goal. This sends an important and public signal to the asset owner community and the broader market about how they are managing climate-related financial risks and opportunities on behalf of their clients'.

The letter of the 50 is very clear: it invites managers to join, if they have not already done so, the Nzam coalition that has survived the anti-green wave coming from the US and in particular from the Republicans at the urging of President Trump.