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Investors Demand Oil, Gas Firms Adopt Climate Targets, But They Must Also Apply Them To Their Funds

April 29, 2019

Via: Forbes

Oil companies face an existential threat unless they adopt business models that support the Agreement’s targets on climate change, according to investors with $10 trillion of assets under management.

Yet many of those same investors are failing to practice what they preach by implementing targets for their own funds, a new survey reveals.

In a report surveying fund managers about their attitudes to climate risk and investment in high carbon companies, 86% of respondents said that fossil fuel companies should align their business strategies with the Paris goals. Nearly half want them to adopt policies consistent with limiting global warming to 1.5°C while 43% are calling for a 2°C target.

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