The Tech Giant Tesla and some of the other world’s largest investors have been urged to set science-based targets in order to reduce risk to investments.
According to the details, over 1,800 of the global companies with the highest emissions, have been contacted as part of a new campaign.
The data showed that the companies who were contacted account for 13.5 Gt of emissions (Scope 1+2) each year, equivalent to 25% of total global emissions, and also comprise 40% of the MSCI All-COuntry World index in aggregate.
Climate experts are of the view that “Climate change presents material risks to investments, and companies that are failing to set targets grounded in science risk losing out – and causing greater damage to the world economy.”
The experts said “Investors want to see the accelerated corporate commitment that reflects the unprecedented challenge the planet faces. To make this possible, they expect companies to commit fully to ambitious targets grounded in science.”
“With business resilience and adaptation to systemic risks exposed by the recent public health crisis, the tide is rapidly turning against companies not taking note of investor demands.”