Investors Urge Governments to Act on Climate Change

A total of 415 global institutional investing firms that represent over $32 trillion in assets issued a statement on Monday urging world governments to lower carbon emissions and take action against climate change. Investors of the world's biggest asset managers, pension funds and insurers said in the statement that governments around the world need to ramp up their efforts for the transition into a low carbon environment to improve the strength of the global world and financial system against climate change.

Stressing that investors are increasingly incorporating climate change scenarios and climate risk management strategies into their investments, the statement said, " it is vital that policy makers are firmly committed to achieving the goals of the Paris Agreement."

"It is vital for our long-term planning and asset allocation decisions that governments work closely with investors to incorporate Paris-aligned climate scenarios into their policy frameworks and energy transition pathways," it added. Some of the institutional firms include asset management firms of BBVA, Nomura and BNP Paribas, insurers such as AXA and Aviva, and major pension fund ABP.

"The countries and companies that lead in implementing the Paris Agreement and enacting strong climate and low carbon energy policies will see significant economic benefits and attract increased investment that will create jobs in industries of the future," the statement read.

Representatives of around 200 countries met Monday in Katowice, Poland for the United Nations framework convention on climate change, COP24, with the aim of meeting the goals that were set in the Paris Climate Change agreement - to cap global warming under two degrees Celsius.

(Anadolu Agency)

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