Investors urge government leaders to stop fossil fuel support

Investors controlling $41 trillion in assets have called for governments around the world to end support for fossil fuels and set targets for rapid reductions in carbon emissions to limit the damage from global heating.

The 457 investors, who hold almost a third of world’s assets under management, signed a joint statement calling for governments to “significantly strengthen” their plans to cut carbon emissions in the next decade and to bring in detailed targets for net zero emissions by 2050 or sooner.

It is believed to represent the largest group of investors by assets ever to join a concerted call for climate action. Measures should be in line with scientists’ estimates of what is needed to limit global heating to 1.5 degrees above pre-industrial levels – the target to avoid the worst impacts of the climate crisis.

Read the full story here