Investors Urged To Engage With Banks To Back Low-Carbon Transition | Sustainable Procurement News |
A new report from London-based investment advisory ShareAction has called on investors to use their voting rights to urge banks to play a more proactive role in the transition to a low-carbon economy, by “providing the major injections of capital required to finance technologies, infrastructure and the transition of traditional industries, as well as to cover the costs of adaptation.” Figures from the International Energy Agency estimate that $359 trillion worth of investment is required by 2050 to ensure the world avoids global warming exceeding 2°C.