Global investors with more than $3 trillion under management have asked 45 companies - including BHP Billiton, Rio Tinto, BP and Xstrata - to explain how they are planning for an 80% reduction in fossil fuel emissions by 2050.
Activist Bill McKibben had some useful messages for institutional investors at a Sydney meeting, according to the Investor Group on Climate Change, while Greens Leader Christine Milne says it's time for the Future Fund to exit fossil fuels.
New reports from an Australian group representing funds that manage more than $900 billion warn oil and gas reserves might have to remain unexploited and urge investors to seek climate change risk assessments from owners of large mines.
Institutional investors are using tools such as portfolio carbon footprinting, shareholder resolutions and adaptation strategies to manage climate change risk, according to a new survey of their practices in Europe, the US and Australia.
Australian and international investor groups have demanded that oil and gas companies demonstrate that they are effectively controlling fugitive methane emissions, and they want intensive gas users to exert pressure as well.