Tags: EU | United Nations | Climate | Carbon Tracker

UN Lauds Launch of Market Tool Assessing Firms' Climate Risk

Wednesday, 11 January 2017 11:26 AM

BERLIN (AP) — The United Nations is applauding the launch of a financial tool to track companies' efforts to prepare for climate change.

Thirteen funds and five firms managing over 2 trillion pounds ($2.4 trillion) launched the online tool at the London Stock Exchange on Wednesday.

Called the Transition Pathway Initiative , it allows asset managers to check what companies have done to prepare for a low-carbon economy.

Burning fossil fuels, which releases carbon into the atmosphere, is considered one of the main drivers of man-made climate change.

U.N. climate chief Patricia Espinosa said the new tool could help ensure financial investments support efforts to limit and prepare for climate change.

A G-20-led task force recommended last month that companies should provide investors with more information about the risks companies face from global warming.

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The United Nations is applauding the launch of a financial tool to track companies' efforts to prepare for climate change.Thirteen funds and five firms managing over 2 trillion pounds ($2.4 trillion) launched the online tool at the London Stock Exchange on Wednesday.Called...
EU,United Nations,Climate,Carbon Tracker
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2017-26-11
Wednesday, 11 January 2017 11:26 AM
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