Funds demand science-based emissions targets from 1,600 firms

Funds managing nearly $30t in assets called on Wednesday for 1,600 of the world's most polluting companies to "urgently" set science-based emissions reduction targets. The 220 investors, including Fidelity International and Amundi, said they had written to CEOs of firms they invest in demanding targets that would help cap global warming at no more than 1.5 degrees Celsius over pre-industrial levels by 2050. Their call comes just over a month before world leaders meet in Britain for the latest round of global climate talks, with all countries challenged to set tougher targets as the impacts of climate change become more pronounced. The group said that the companies in question collectively account for 11.9 gigatons of so-called Scope 1 and 2 emissions, those tied to their operations, which totalled more than the EU and US combined. It said Hyundai Motor Company, chemicals company BASF and Lufthansa were among those approached. A Lufthansa spokesperson pointed to the airline's commitment to be net zero by 2050, and halve its net carbon emissions and be carbon neutral in its ground operations by 2030.<br/>