Asian companies reach ‘tipping point’, more readily engaging on climate change: Climate Action 100+
- Nearly half of 160 monitored companies globally have committed to zero emissions by 2050
- In Asia, 30 investors now support the global initiative, investor group says
Asian companies are more readily engaging with investors on climate change and making commitments to reduce their emissions in line with new carbon-neutrality pushes this year by governments in China, Korea and Japan, according to investor coalition Climate Action 100+.
Nearly half of the 160 companies monitored globally by the investor coalition have adopted zero-emission commitments by 2050, with 51 per cent committing to short-term emissions targets in the next five years, the group said.
Awareness by companies and investors of the need to address climate change has reached a “tipping point” in Asia, according to Rebecca Mikula-Wright, executive director of the Asia Investor Group on Climate Change.
“Awareness of climate impact in the region, the impact on people’s lives [and] the evolution in China [is driving change] – the recognition that the officials and everybody else breathes the same air,” Mikula-Wright said.
Climate Action 100+ counts 545 global investors holding about US$52 trillion in assets under management who have signed up to the initiative.