ImpactAlpha, October 13 – More investors are pressing more companies to cut more emissions.
The new Business Ambition for 1.5°C campaign is urging more than 1,800 high-emitting companies to set science-based emissions targets to achieve net zero emissions by 2050 at the latest. U.K.-based nonprofit CDP, which is leading the effort, has warned that large companies face $1 trillion in risk from climate impacts that are likely to hit in the next five years.
Among the 137 investors representing $20 trillion in assets are AXA Group, Legal & General Investment Management, Nikko Asset Management and Generation Investment Management.
“Companies that are failing to set targets grounded in science risk losing out – and causing greater damage to the world economy,” said CDP’s Emily Kreps.
An earlier effort, Climate Action 100+, has sought commitments from 161 big corporate emitters to meet the Paris climate agreement’s goals of keeping temperature increases below 2°C.