Investor group targets 161 top polluting companies to fight climate change or lose $47T in investment cash

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Investor group targets 161 top polluting companies to fight climate change or lose $47T in investment cash

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A number one investor group has written to the boards of the world’s greatest company emitters of greenhouse gases, warning they need to produce a technique to maneuver their enterprise to net-zero carbon emissions or face strain at future AGMs.

Local weather Motion 100+, whose members embrace a lot of the world’s greatest buyers, collectively managing $47 trillion in property, mentioned the methods wanted to have clear targets and that firms could be assessed on their efficiency.

Whereas some firms have already moved to decide to net-zero carbon emissions by 2050 or sooner, many haven’t. It may also be onerous to match the relative deserves of every firm’s technique, which might make engagement more durable.

To assist repair the issue, CA100+ mentioned on Monday it was launching a brand new benchmark to assist its 500 members and others assess every firm’s progress on the way in which to net-zero in opposition to a set of 30 indicators.

In a letter to the boards of 161 firms collectively accounting for round 80 per cent of the world’s greenhouse gasoline emissions, CA100+ mentioned better motion was wanted to fulfill the phrases of the 2015 Paris settlement to restrict international warming.

Particularly, the group referred to as on the businesses to create methods that coated their full worth chain — together with so-called Scope three emissions from every firm’s merchandise — and have been science-based.

Corporations additionally wanted to set medium-term targets and materials targets to assist exhibit the longer-term objectives have been achievable and make it simpler for buyers to trace the mandatory modifications to their core enterprise technique.

CA100+ mentioned the businesses’ response would information the way in which buyers have interaction with the boards, “notably for unresponsive or poorly performing firms,” which might additionally embrace motion throughout future annual common conferences.

“Corporations throughout all sectors must take extra formidable motion to make sure in any other case devastating impacts of local weather change are averted whereas they nonetheless will be,” mentioned Stephanie Pfeifer, CEO, Institutional Traders Group on Local weather Change, a part of the CA100+ coalition.

“The benchmark will guarantee it is clear which firms are appearing on local weather change as a business-critical subject and embracing a net-zero future. Traders will likely be paying specific consideration to these proven to be falling brief.”

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