Big investors are stepping up their efforts to hold the companies they invest in to greater account over how they address climate change. The number of companies being targeted by Climate Action 100+, a new initiative in which a coalition of investors call on the world’s biggest emitters of greenhouse gases to companies to cut greenhouse gas emissions and improve their disclosure and oversight of climate-related risks, has grown 61 per cent to 161 since the initiative launched at the end of last year. Four new investors, including AllianceBernstein the $550bn fund manager and UniSuper, a $64bn Australian pension fund, have also joined the push taking the grouping to 289 members with almost $30tn in assets under management. Companies now being pushed to do more to tackle climate change include French car group Peugeot, Unilever, Coca Cola and airline Air France KLM.
FT 4th July 2018 read more »