Just 100 companies have been the source of more than 70% of the world’s greenhouse gas emissions since 1988, according to a new report.
A fifth of global industrial greenhouse gas emissions are backed by public investment, according to the report.
Investors should move out of fossil fuels, says Michael Brune, executive director of US environmental organisation the Sierra Club.
The world is moving away from fossil fuels towards clean energy and is doing so at an accelerated pace.
Those left holding investments in fossil fuel companies will find their investments becoming more and more risky over time.”.
There is a “growing wave of companies that are acting in the opposite manner to the companies in this report,” says Brune.
Nearly 100 companies including Apple, Facebook, Google and Ikea have committed to 100% renewable power under the RE100 initiative. »