8 May 2017
UPDATE: London/New York/Sydney Monday 22 May 2017 (revised from material previously issued on 8 May 2017)
Over 280 global investors (managing more than $17 trillion in assets) urge G7 to stand by Paris Agreement and drive its swift implementation.
282 long‐term institutional investors representing more than USD $17 trillion in assets have written to G7 heads of state urging governments to stand by their commitments to the Paris Agreement at their upcoming Summit in Taormina, Italy on May 26‐7.
- 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.