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Twenty-six institutional investors have released a ten-point action plan calling on US companies to provide ‘comprehensive analysis and disclosure’ about the financial risks they face from climate change.
The investors, who manage more than $3trillion (£1.6tn) in assets between them, also
say that they intend to invest $1billion (£647m) over the next year in ‘prudent business opportunities’ emerging from the drive to reduce greenhouse gas emissions.
The action plan was issued after a climate risk meeting for investors at the United Nations building in New York. Supporters of the plan include the state pension funds of California, Connecticut, Illinois and New York City, as well as the UK-based Universities Superannuation Scheme.
The plan says publicly-held companies in the electric power, auto, and oil and gas sectors should report within a year and urges the Securities and Exchange Commission to require companies to disclose financial risks related to climate change.
The investors, who manage more than $3trillion (£1.6tn) in assets between them, also
say that they intend to invest $1billion (£647m) over the next year in ‘prudent business opportunities’ emerging from the drive to reduce greenhouse gas emissions.
The action plan was issued after a climate risk meeting for investors at the United Nations building in New York. Supporters of the plan include the state pension funds of California, Connecticut, Illinois and New York City, as well as the UK-based Universities Superannuation Scheme.
The plan says publicly-held companies in the electric power, auto, and oil and gas sectors should report within a year and urges the Securities and Exchange Commission to require companies to disclose financial risks related to climate change.
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