Fund Signs Up to Climate Change Lobbying Group
Climate Action 100+ is an investor initiative which focuses on the world’s largest carbon emitters to encourage them to take urgent action on climate change.
The initiative targets 100 companies that are considered to be ‘systemically important emitters’ and who account for two-thirds of annual global industrial emissions. It also seeks to engage with a further 60 companies who are deemed to have the capacity to drive the clean energy transition.
Specifically, companies are being asked to:
Implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risks and opportunities;
Take action to reduce greenhouse gas emissions across the value chain, consistent with the Paris Agreement’s goal of limiting global average temperature increase to well below 2 degrees Celsius above pre industrial level; and
Provide enhanced corporate disclosure in line with the final recommendations of the Task Force on Climate related Financial Disclosures (TCFD) to enable investors to assess the robustness of companies’ business plans against a range of climate scenarios,
Climate Action 100+ has had a number of high profile successes, including extracting positive commitments from companies such as BP, Glencore, Rio Tinto, Nestle and Maersk.