European funds managing $2 trillion in assets called on cement companies to slas...
The funds urged all cement companies to align themselves with the 2015 Paris agreement to combat global warming, engage with policy-makers to ensure an orderly transition to a low carbon economy, and increase their reporting of climate risk.
Signatories collectively manage assets worth $2 trillion and include Aberdeen Standard Investments, BNP Paribas Asset Management, Sarasin & Partners and Hermes EOS. The cement industry produces 7% of the world’s greenhouse gas emissions, according to the International Energy Agency, meaning that if it were a country, it would be the third largest emitter, behind the United States and China.
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