A group of more than 500 major institutional investors is calling on governments to boost efforts to tackle climate change, ahead of a U.N. summit on the issue next week, wirereporter writes.
FIE - This Aug. 13, 2019, file photo, shows the boat Malizia as it is moored in Plymouth, England Tuesday, Aug. 13, 2019. A group of more than 500 major institutional investors is urging governments to do more to tackle climate change, ahead of a U.N. summit on the issue.
The banks, insurance companies and pension funds said in a joint statement ahead of next week’s U.N. climate summit in New York that current national commitments could lead to an “unacceptably high temperature increase that would cause substantial negative economic impacts.” But the investment firms, which together say they manage $35 trillion in assets, cited a gap between the modest steps pledged by governments — which in themselves fall short of what’s needed to meet the Paris goals — and actual measures taken so far.
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