⁍ AXA Group and Nikko Asset Management Co are among 137 investors urging 1,800 companies responsible for a quarter of global emissions to act.
⁍ More companies are pledging their support for the 2015 Paris agreement on climate change, aiming to be carbon neutral by 2050, but not all have been clear about how they will get there.
⁍ To help limit global warming to no more than 1.5 degrees Celsius above pre-industrial norms by 2050, companies need to set out their pathway to net zero.
– Some of the biggest investors in the world are calling on 1,800 companies responsible for a quarter of global emissions to do more to fight climate change. The investors—who manage around $20 trillion in assets—are urging the companies to set science-based targets to get to a net-zero carbon emissions by 2050, Reuters reports. “Companies that do not set science-based targets risk being surprised by increased costs or lost business that could result from the increasing focus on climate change by society and regulators,” says Ted Maloney, chief investment officer at MFS Investment Management, one of the investors. The group behind the call, called the CDP, says more than 1,000 companies have already set science-based targets.
Source: https://www.reuters.com/article/climate-change-investors/investors-urge-heavy-carbon-emitters-to-set-science-based-reduction-targets-idUSKBN26Y067