Investors urge G20 action on climate change
A cabal of 477 investors, representing USD $34 trillion in assets, have urged G20 leaders to limit global temperature rise to 1.5 degrees Celsius.
In an open Global Investor Statement to Governments on Climate Change, investors from around the world have urged world leaders to step up ambition on climate change and enact strong policies by 2020 to achieve the goals outlined in the Paris Agreement.
“As institutional investors with millions of beneficiaries around the world, we reiterate our full support for the Paris Agreement and strongly urge all governments to implement the actions that are needed to achieve the goals of the Agreement, with the utmost urgency,” the investors wrote in the statement.
“Climate change affects all sectors of the economy and all countries,” said Christiana Figueres, Convener of Mission 2020 and former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).
"It is the biggest and most urgent challenge currently facing the world. As we face a true climate emergency, limiting temperature increase to 1.5 degrees Celsius is necessary for survival, and achievable!”
Figueres added, “Investors have a vital role to play in providing the trillions in capital required to support the transition to a low-carbon and climate-resilient future. It is therefore hugely encouraging to see so many investors unite around such a clear and powerful statement to governments. They are showing a sentiment shared across the global community: exponential scale-up and acceleration of climate action is not a choice but a requirement, and represents our best opportunities for financial stability and economic prosperity.”
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