London — A leading investor group has written to the boards of the world’s biggest corporate emitters of greenhouse gases, warning they must produce a strategy to move their business to net-zero carbon emissions or face pressure at future AGMs.
While some companies have already moved to commit to net-zero carbon emissions by 2050 or sooner, many have not. It can also be hard to compare the relative merits of each company’s strategy, which can make engagement harder. In a letter to the boards of 161 companies collectively accounting for about 80% of the world’s greenhouse gas emissions, CA100+ said greater action was needed to meet the terms of the 2015 Paris agreement to limit global warming.
Companies also needed to set medium-term objectives and material targets to help demonstrate the longer-term goals are achievable and make it easier for investors to track the necessary changes to their core business strategy.