Carbon-heavy assets cannot just be left to owners who do not care

Incentives needed to make 'gray-to-green' rewarding for investment managers

Hiromichi Mizuno and Sarah Keohane Williamson

April 25, 2023 05:00 JST

A Woodside Energy Group gas plant in Burrup, Australia: The fossil fuels company absorbed BHP's oil and gas business in 2022. © Reuters

Hiromichi Mizuno is special adviser to the Milken Institute, a think tank based in Santa Monica, California. He previously served as a special envoy to the U.N. secretary-general on innovative finance and as chief executive of Japan's Government Pension Investment Fund. Sarah Keohane Williamson is the chief executive of FCLTGlobal, a nonprofit group supporting the long-term reorientation of capital.