Business

Fear of catastrophe caused investors to press Tesla and Facebook

Fear of catastrophe caused investors to press Tesla and Facebook

Amazon, Facebook, and should inform their shareholders about how their work affects the planet’s climate, said a coalition of influential investors. The fear of possible disastrous consequences for the environment makes them press companies to reduce their carbon emissions, writes the Financial Times.

This is an initiative of 168 organizations that together manage more than $17 trillion in assets. They supported the Carbon Disclosure Project (CDP) campaign aimed at obtaining full reporting on issues related to climate change, deforestation, and water use.

Investors turned to 1,320 enterprises, which, according to CDP, now emit more than 4,700 megatons of carbon dioxide into the atmosphere. In addition to American companies, the requirements apply to Chinese giants such as Alibaba and Meituan, which own the largest online food ordering service in the country.

“The campaign against non-disclosure of information has achieved record support this year — 56 percent more investors participate in it. They require systematic, clear, and collatable data to help them realize their ambitions to fully reduce emissions, ” explained CDP’s Global Director of Capital Markets, Emily Kreps.

At the end of May, the British Investment Association (IA), which also manages multibillion-dollar assets, called for companies to report on climate risks. She appealed to the leaders of the Group of Seven countries and suggested following the example of Britain, which will oblige large organizations and financial institutions to provide relevant information by 2025. At the end of 2020, a similar initiative was launched in the European Union.



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