BERLIN – A report produced for some of the world’s biggest institutional investors finds many companies in high-emission industries aren’t doing enough to respond to climate change.
The report published Wednesday by the London-based Transition Pathway Initiative examined 274 publicly listed companies in sectors such as automobiles, mining and steelmaking.
It concluded almost half don’t adequately consider the risks of climate change when making business decisions. A quarter don’t report their greenhouse gas emissions.
The report, produced with the London School of Economics, also found that, out of 160 companies studied, only 1 in 8 is reducing emissions in line with the Paris climate accord.
The Transition Pathway Initiative is backed by investors that together manage more than $14 trillion, including the California Public Employees’ Retirement System, Aviva and UBS.
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