Top Investors Want More Ambition in Greenhouse Gas Control ahead of G-7 Summit

Top Investors Want More Ambition in Greenhouse Gas Control ahead of G-7 Summit

(Bloomberg) Investors controlling about $41 trillion of assets are calling upon the G-7 countries and governments to set more ambitious goals in greenhouse gas control.

The investors, led by DWS Group and Pacific Investment Management Co., are among as many as 457 investors seeking to end support for fossil fuel use. 

The investors want governments to commit to reaching net zero emissions by 2050, by raising 2030 targets, as well as mandating financial reporting on climate actions.

Key areas by the investors include restricting global warming to only 1.5 degrees Celsius, eradicating use of coal, and removing subsidies on fossil fuel.

The investors also want a recovery plan against COVID-19 to enhance transition to emission goals 

The requests by the money managers come ahead of the G-7 meeting on Friday, where climate change will be a key area of discussion. 

Global stocks are currently gaining. SPY is up 0.021% on premarket, DAX is up 0.062%, CSI 300 is up 7.27%

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