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CEOs urge world leaders to take bolder climate action

June 10, 2021. Summarized by summa-bot.

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More than 70 CEOs from some of the world's biggest companies have urged governments to do much more to tackle climate change, including forcing businesses to reduce their carbon emissions.

London (CNN Business)More than 70 CEOs from some of the world's biggest companies have urged governments to do much more to tackle climate change, including forcing businesses to reduce their carbon emissions.

In an open letter published on Wednesday, company chiefs — including Mark Schneider of Nestlé (NSRGY) and Ramon Laguarta of PepsiCo (PEP) — called on all governments to set policies to meet targets consistent with the Paris climate agreement's most ambitious goal of capping the global rise in temperatures to 1. 5 degrees Celsius.

It echoes a similar call by Shell (RDSA) CEO Ben van Beurden on Wednesday, who said his oil company would accelerate cuts to emissions but the crisis was too big for one company to tackle and would need global collaboration between business, government and society.

A separate call Thursday by investors managing more than $41 trillion in assets warned that governments "risk missing out on a wave of investment" if they fail to implement meaningful policies to tackle climate change.

In their letter, the CEOs said that governments need to publish plans to halve emissions by 2030 and commit to net-zero emissions by 2050 before November's climate summit in Glasgow, Scotland.

The statement from the group of 457 global investors, including Fidelity International, State Street Global Advisors, Allianz Global Investors and the California Public Employees Retirement System, said that countries that take the lead in implementing national climate policies will become "increasingly attractive investment destinations. "

by summa-bot

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