Sundaymail Editor
A group of 457 investors, which oversees more than US$41 trillion in assets combined, and a coalition of group of 79 company CEOs are calling on the G7 — Canada, France, Germany, Italy, Japan, the UK and US — to work harder on reducing greenhouse emissions and cut funding for fossil fuels.
In separate letters to governments as leaders of the G7 met in England, and ahead of a global climate summit in November, the two groups agreed on the need for “bold and courageous” immediate action to limit global warming to 1,5 degrees Celsius, as set out by the Paris Agreement in December 2015.
Fidelity International, Schroders, DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among the hundreds of influential investors to sign the petition to all governments as leaders of the G7 meet in England.
They represent the largest collective assets under management to sign on to a global investor statement to governments on climate change since the first petition in 2009.
In their letter, they said that those countries to take the lead in making climate-related financial reporting would become “increasingly attractive” investment destinations. Laggards would find themselves at a competitive disadvantage, the group representing an estimated 37 percent of all global assets under management wrote. — mining.com
Tinaye Agere
Online Reporter