Wielding $9 Trillion, Investors Warn Firms From BP To BMW To Get Real On Climate Change

SectorFinancial Markets
CountryMiddle east

Performance group The Red Brigade protesting BP's sponsorship of exhibitions at The British Museum ... [+] in London. BP was one of the firms today urged by a group of institutional investors to account for climate risk in its financial reporting. Getty Images Investors controlling more than $9 trillion in assets today called on 36 major European firms to clean up their act on climate change—specifically when it comes to their accounts.

The group of 38 institutional investors signed a joint letter urging firms including oil giants Shell and BP, energy provider EDF, airplane manufacturer Airbus and car maker BMW, to account for climate risk in their financial statements, as nations move away from fossil fuels and ramp up efforts to decarbonize their economies. ...read more...