Laxman Pai, Opalesque Asia: 532 institutional investors with US$39 trillion in assets under management (AUM) have called on governments to raise their climate ambition, including setting plans to phase out fossil fuel use and forcing companies to set out science-based transition plans, as government officials around the world prepare for the next U.N. climate change summit (COP27).
The 27th Conference of the Parties of the United Nations Framework Convention on Climate Change, or COP27, begins Nov. 6 in Sharm el-Sheikh, Egypt.
The 2022 Global Investor Statement to Governments on the Climate Crisis is the most ambitious statement to date in terms of the policy recommendations contained within it, calling on governments to raise their climate ambition in line with the goal of limiting global temperature rise to 1.5°C.
The most ambitious actions called for include mandated climate transition plans from investors. In calling for this action, investors are directly asking for more climate disclosure regulation in the finance sector, in addition to calling for climate regulation of companies.
The global investor statement to the governments was signed by investor signatories and is being coordinated by the founding partners of Investor Agenda: Asia Investor Group on Climate Change, CDP, Ceres, Institutional Investors Group on Climate Change, Investor Group on Climate Change, Principles for Responsible Investment and United Nations Environment Programme Finance Init...................... To view our full article Click here
|