The world’s top 100 greenhouse gas emitting companies are being targeted by an investment group.
With investment portfolios of over £19.6 trillion, the group are looking to pressure the companies to take action and increase their efforts to reduce their emissions.
The Climate Action 100+ group involves 225 investors led by HSBC Global Asset Management, AustralianSuper and CalPERS.
CDP data has been studied to develop the top 100 list, which involves businesses in transportation, power, oil and gas and high profile firms such as ExxonMobil, Royal Dutch Shell and Toyota.
The Climate Action investors will study the business plans of the top 100 emitters to bring about a number of scenarios and to help align the plans with green and efficiency standards.
Director of Responsible Investment at HSBC Global Asset Management, Stephanie Maier stated: “Climate change is a material and systemic risk no long-term investor can afford to ignore.”
“To support the full implementation of the Paris Agreement, it is also vital that investors and universal owners across the mainstream investment community do more to ensure major corporate emitters move swiftly to address the risks and pursue the opportunities presented by climate change.”
“Providing greater disclosure on how they are aligning with the 2°C transition.”