A group of over 200 institutional investors, including Aegon, Amundi, Legal & General and Pacific Investment, managing $26tn in assets, are to increase pressure on the 100 major corporate emitters of greenhouse gases. The investors will work with companies such as Exxon Mobil and Gazprom on a five-year plan, while also calling for increased climate-related disclosure and an 80% reduction in emissions by 2050. The group claimed the plan will be more effective than divestment. “Investors have been asking us for years what we can do about climate change, but they don’t know how much is being done or where it is,” said Michael Bloomberg, who chairs the group.
A group of over 200 institutional investors, including Aegon, Amundi, Legal & General and Pacific Investment, managing $26tn in assets, are to increase pressure on the 100 major corporate emitters of greenhouse gases. The investors will work with companies such as Exxon Mobil and Gazprom on a five-year plan, while also calling for increased climate-related disclosure and an 80% reduction in emissions by 2050. The group claimed the plan will be more effective than divestment. The announcement was made on Tuesday, to mark the second anniversary of the Paris Climate Agreement.