Investors With $29 Trillion Demand Science-Based Climate Targets
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A coalition of financial firms overseeing a combined $29.3 trillion of assets are calling on some of the world’s biggest corporate emitters to “urgently” set science-based emissions reduction targets that are compatible with 1.5° Celsius of global warming.
Allianz SE, Credit Agricole SA and Legal & General Investment Management are among 220 institutions that have written to 1,600 companies to request they set emissions reduction targets through the Science Based Targets initiative, a widely-endorsed program for screening corporate climate plans. The financial firms are asking companies, including Hyundai Motor Co., Duke Energy Corp. and Samsung Electronics Co., to align their targets with a 1.5°C pathway.