Drive Transition: Investors and Bp

drive transition: Since then a group of investors has worked hard to persuade BP BP, 0.12%BP., 4.02% and other companies in which they invest to commit to the goals that aim to contain warming in the current century to less than 2 degrees Celsius, according to Market Watch. Those investors are signatories of the global Climate Action 100 initiative, which was launched in December of 2017 with the goal of pushing the biggest emitters of greenhouse gases to help drive the transition to clean energy. The move comes after shareholders passed a motion in 2015 that asked the company to improve its corporate reporting and transparency on climate change-related risks. More than 300 investors from some of the world's biggest institutional investors, including California Public Employees' Retirement System, known as CalPERS, HSBC Global Asset Management, Ircantec, and Manulife Asset Management have been working to engage companies on improving their emissions and bolstering climate-risk and climate-related financial disclosures. This is a welcome step by BP, which will hopefully lead to more action on climate change by others in the oil and gas sector, said Emma Herd, a member of the global Climate Action 100 Steering Committee and CEO, Investor Group on Climate IGCC . See also New report expected to boost push to make company climate-risk disclosures mandatory Mindy Lubber, chief executive of sustainability non-profit Ceres, agreed. The group has considerable financial clout, managing more than 32 trillion in assets collectively. (news.financializer.com). As reported in the news.