Institutional investors representing more than $15 trillion in assets have written to G7 heads of state urging them to stand by the commitments in the Paris Agreement on Climate Change when they meet in Italy later this month.
The letter calls on governments to put policies in place to achieve the commitments and develop focused and long-term climate plans aligned to the agreement’s goal of keeping global average temperature rise to well above 2 degrees Celsius compared with pre-industrial levels.
“It is imperative that the public and private sectors work closely together to get the signalling and incentives right to shift the trillions of capital required across the global economy,” the investors said.
The G7 will meet in Taormina on 26–27 May.
The letter also called on G20 leaders – who will meet on 7–8 July – to “explicitly acknowledge” climate change at the gathering.
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G7 ‘urged’ to act on climate
Investors call on governments to put low-carbon policies in place
By EBS