Exclusive: Investor group to pressure utilities on net zero emissions deadline

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NEW YORK : A coalition of investors with more than US$60 trillion in assets under management is preparing to call on electric utility companies globally to move up their timeline by as much as 15 years to bring their net greenhouse gas emissions to zero.Utilities account for about 40per cent of emissions

NEW YORK : A coalition of investors with more than US$60 trillion in assets under management is preparing to call on electric utility companies globally to move up their timeline by as much as 15 years to bring their net greenhouse gas emissions to zero.

Net zero refers to reaching a balance between the greenhouse gases put in to the atmosphere and those taken out. In a report to be published on Wednesday, the IIGCC will call on utilities in developed economies to reach net zero emissions by 2035 and in developing countries by 2040. It will ask them to outline a detailed strategy to get there.

Pressure is building on companies and governments to do more to tackle climate change ahead of the COP26 United Nations conference https://www.reuters.com/business/environment/cop26-glasgow-who-is-going-who-is-not-2021-10-15 in Glasgow, Scotland, later this month.

 

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