This recommendation does not appear in the final version of the report, released last November. 4  This line of reasoning has potentially wide implications for financial intermediaries’ behavior and for the design of their transition plans. First, it seems doubtful that net zero pledges can be credibly announced without mentioning the potential trade-off with returns.
To my knowledge, to date few if any intermediaries have been explicit about this potential trade-off. One possible reason is that many of them have a fiduciary duty towards their clients, and have not yet asked, let alone received, a mandate to sacrifice returns for sustainability, should this become necessary.