Climate Action 100+ is the leading group of investors pushing for faster action from the 166 companies responsible for over 80% of corporate emissions. Its more than 600 members manage a collective $65 trillion in assets.
"This AGM season is going to be really critical in terms of investors signalling whether they consider companies to have moved sufficiently far or fast in their climate strategies," said Stephanie Maier, Global Head of Sustainable and Impact Investment at GAM Investments and current chair of the global Climate Action 100+ Steering Committee.
But regardless of sector, none of the companies assessed had demonstrated that its financial accounts were drawn up using assumptions consistent with getting to net-zero by 2050, the group said. Among electric power companies, the CA100+ stocktake found less than a third had a plan to phase out coal consistent with keeping the global temperature rise below even 2 degrees Celsius, CA100+ said, citing data from Carbon Tracker Initiative .
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