UPDATED – LETTER FROM GLOBAL INVESTORS TO GOVERNMENTS OF THE G7 AND G20 NATIONS
Nearly 400 global investors (managing more than $22 trillion in assets) urge G20 to stand by Paris Agreement and drive its swift implementation.
UPDATE: London/NY/Sydney 00.01 GMT Monday 03 July 2017 (revised from material previously issued on 8 & 22 May 2017)
Long-term institutional investors (390 representing more than USD 22 trillion in assets) have written to G20 leaders urging governments to stand by their commitments to the Paris Agreement at their upcoming Summit in Hamburg on 07- 8 July 2017.
Underscoring the urgency of action by G20 nations to implement the global climate pact and echoing a message previously delivered to the G7, investors call on G20 leaders to:
- Reiterate their support for and commitment to implement the Paris Agreement, including the delivery of their own Nationally Determined Contributions in full.
- Bring forward focused and targeted long-term climate and energy plans that will ensure their future actions align with commitments under the pact to keep global average temperature rise to well below 2°C above pre-industrial levels and preferably to 1.5 °C.
- Drive investment into the low carbon transition through aligning climate-related policies, phasing out fossil fuel subsidies and introducing carbon pricing where appropriate.
- Implement climate-related financial reporting frameworks, including supporting the Financial Stability Board Task Force on Climate-related Financial Disclosures’ recommendations.