Climate Action 100+ adds nine firms to focus list

Monde
On the 11/18/20 at 10:51AM

by

Adrien Paredes-Vanheule

Saudi Aramco is among the new entrants.

The $47trn investor coalition Climate Action 100+ has expanded its focus list of companies with the addition of nine companies. The group of investors is engaging with these firms to deliver Paris Agreement-aligned emissions cuts, implement strong climate governance frameworks and improve climate-related disclosures.

The list now counts 167 companies. New entrants include Saudi-state owned oil and gas group Aramco, which remains the largest initial public offering in history, Grupo Argos (construction materials), Grupo México (metals & mining), Incitec Pivot (chemicals), Oil Search (oil & gas), Orica (chemicals), UltraTech Cement (construction materials), Uniper (Germany) and Petróleos Mexicanos (oil & gas).

Southern Copper and Wesfarmers have been removed from the list. The former has been replaced by its parent company Grupo México in the list while the latter has undergone demergers and asset sales.

Laetitia Tankwe, chair of Climate Action 100+ and adviser to French public pension fund Ircantec chairman, said: “Climate Action 100+ is an investor-driven global collaboration that in a short time has accelerated the capacity for engagement among hundreds of investors, with impressive results. These additions present a strategic opportunity to further curb emissions and enable the transition to a net-zero future by 2050. We welcome the opportunity to support signatories in these new engagements. Our teams are working with focus companies to identify a pathway to, and design a just transition for, a sustainable future.”