Pimco, UBS Among Investors Demanding Science-Based Climate Goals

Oct. 24, 2022, 9:01 PM

A coalition of banks, asset managers and insurers overseeing a combined $36 trillion of assets have told some of the world’s biggest corporate polluters to make sure their targets for reducing CO2 emissions are based on science.

Credit Agricole SA, Pacific Investment Management Co. and UBS Group AG are among 317 financial firms that have written to over 1,000 companies urging them to set goals through the Science Based Targets initiative, a widely-endorsed program for screening climate plans. Companies to receive the letter, which include BASF SE, Qantas Airways Ltd. and Rio Tinto Group, are being asked to set emissions goals in line with the Paris …

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