Investors managing $39 trillion have called on governments to raise their climate ambition, including setting plans to phase out fossil fuel use and forcing companies to set out science-based transition plans.
The move by some - but not all - top fund firms comes ahead of the next round of global climate talks in Egypt in November. This year's letter is the most ambitious appeal to officials yet, backers of the effort said, with additional requests for action on tackling methane pollution and scaling up finance to poorer countries.
Organised by the Investor Agenda, a group of investor-focused groups that count many of the world's largest fund managers as members, the "2022 Global Investor Statement to Governments on the Climate Crisis" was the 13th one to be issued.
Other requests by the investors included scaling up low-carbon energy systems; implementing carbon pricing mechanisms that rise over time; establishing new or more ambitious plans to end deforestation.
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