UTAM has joined hundreds of institutional investors to reiterate our full support for the Paris Agreement on climate change and strongly urge all governments to implement the actions needed to achieve the Agreement’s goals. We’ve added our support to the Global Investor Statement to Governments on Climate Change, which has been signed by 515 investors managing well over US$35 trillion in assets.

This is the largest-ever group of investors to call on governments to phase out thermal coal power worldwide, put a price on carbon pollution, end government subsidies for fossil fuels, and update and strengthen nationally determined contributions to meet the emissions reduction goal of the Paris Agreement.

“Investors are taking action on climate change. The global shift to clean energy is underway, but much more needs to be done by governments to accelerate the low carbon transition and to improve the resilience of our economy, society and the financial system to climate risks,” the statement says. “Investors continue to make significant investments into the low carbon transition across a range of asset classes. Investors are also increasingly incorporating climate change scenarios and climate risk management strategies into their investment processes and engaging with high-emitting companies. To build on this momentum and maintain investor confidence to further shift investment portfolios, it is vital that policy makers are firmly committed to achieving the goals of the Paris Agreement.”

The statement was released by The Investor Agenda, a collaborative initiative to accelerate and scale up the investor actions that are critical to tackling climate change and achieving the goals of the Paris Agreement with the aim of keeping average global temperature rise to no more than 1.5-degrees Celsius.

Read the full statement.