The statement was developed by the seven founding partners of The Investor Agenda, launched in 2018, to scale up investor action in support of the transition to a low-carbon economy.
The Global Investors includes 631 institutional investors, who all signed the statement, highlight the importance of protecting the environment in light of the rapid changes that are taking place against the human element and the environment, as well.
The Investors wrote that
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.
What they ask for is to strengthen the implementation of the 2015 treaty which aims to limit the global temperature rise to 1.5°C above pre-industrial levels.
In addition, the investors call for the end of thermal coal power, ending subsidies for fossil fuels, and updating and strengthening nationally-determined contributions (NDCs) to meet the goals of the Paris Agreement.
They alerted that the current goals will leave an "ambition gap" that will not achieve the aim of preventing global average temperature from rising beyond the 1.5°C threshold.
Mindy Lubber, CEO and President of Ceres, one of the seven founding partners of The Investor Agenda commented that
With the immense influence that these investors hold in our economy, government leaders ought to respond to this collective call to action with the urgency and ambition required to power a net-zero emissions economy.
The other founders are the Asia Investor Group on Climate Change, CDP, the Investor Group on Climate Change, the Institutional Investors Group on Climate Change, the UN-supported Principles for Responsible Investment network, and the United Nations Environment Programme (UNEP) Finance Initiative.