The Climate Action 100+, a group of 370 global investors overseeing more than $35 trillion in assets has seen positive responses from corporates on calls to cut net emissions to zero by 2050. The Climate Action 100+ call for corporates to implement specific measures in order to drive the business sector towards a low-carbon economy. The group’s first progress report has revealed how investor engagement with 161 ‘focus companies’ has helped to push climate change up the agenda, but that more needs to be done to meet the rapid decarbonisation required to deliver the Paris Agreement. The group found that just 9 percent of the focus companies, considered the most polluting global corporates, have set targets aligned with the 2oC warming goal of the Paris Agreement. In total, 70 percent of the firms have long-term emission reduction targets. In particular, the report notes that investor pressure played a key role in net-zero commitments from corporates including Nestlé, ArcelorMittal, Centrica and Thyssenkrupp in the last seven months.

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