Investor pressure on large companies

0
2
Investor pressure on large companies


137 funds and financial giants are putting pressure on multinational companies to try to limit global warming.





© AFP
“The objective is no longer to aim for a warming of 2 ° C as before, but indeed 1.5 ° C” because “there is fire in the lake” on the climate issue, insists Laurent Babikian, director of the markets of capital at CDP Europe.


More than a hundred investors on Tuesday demanded “scientifically verified” objectives from multinational companies to align themselves with limiting global warming to 1.5 ° C. They represent 20,000 billion dollars in assets.

These 137 funds and financial giants, including the French Amundi, the British HSBC AM, the German Allianz and the American Boston Trust Walden “are asking companies to commit to fighting climate change by setting scientific objectives ”, indicates in a press release the NGO Carbon Disclosure Project (CDP), specializing in the environmental impact of companies and which coordinated the project. This call targets 1,800 companies all over the world, representing “25% of total global emissions”, specifies CDP, citing in particular “Bouygues, Dassault Systèmes, Safran”.

“We want companies to become more ambitious” by having their climate objectives for 2050 validated by the Science based target initative (SBTi) committee, “the most robust of audits”, details to AFP Laurent Babikian, director of markets for capital at CDP Europe.

“There is fire in the lake”

The STBi was founded by the United Nations Global Compact, WWF, the World Resources Institute and the CDP. It certifies the environmental objectives of companies to match the ambitions of the Paris agreements. More than 1,000 companies have started the process, but less than half have had their roadmap approved. “The objective is no longer to aim for a warming of 2 ° C as before, but indeed 1.5 ° C” because “there is fire in the lake” on the climate issue, insists Laurent Babikian.

Companies have until May 2021 to respond. If the funds do not undertake to sanction or act in the event of non-response from participants, “some are shareholders of these companies”, which could give weight to the initiative, hopes Laurent Babikian.

Especially since at the beginning of October, the STBi published a new scale for the commitments of financial institutions. “Investors will also have to set themselves scientifically realistic climate objectives” by moving towards more ambitious companies in this area, indicates Laurent Babikian.

LEAVE A REPLY

Please enter your comment!
Please enter your name here