Reuters
A group of investors managing $11 trillion in assets has called on banks to set tougher emissions targets ahead of a meeting of world leaders aimed at accelerating efforts to fight climate change. The group, which includes Pimco, the world's biggest bond investor, and Britain's biggest asset manager, Legal & General Investment Management, said they wanted lenders to set 'enhanced' pledges to decarbonise their lending books. While a number of the world's biggest banks have already said they have an 'ambition' to reach net zero greenhouse gas emissions by 2050, many have yet to specify how they plan to do so and continue to fund heavy emitting activities.