Over 380 global investors urge G20 and G7 to stand by Paris Agreement
Grupo Financiero Banorte (GFNorte) has joined the group of 390 global investors representing US$22trillion in assets, demanding that G20 leaders honoUr their Paris Agreement commitments.
Banorte is the only Mexican financial group and institution in this group, calling on the G20 to strengthen its commitment to fight climate change.
The investors requested global leaders to:
Continue to support and implement the Paris Agreement, as the G7 leaders did last June
Direct investments towards an economy with low levels of carbon emissions
Implement financial reporting that explicitly considers climatic aspects
Included among the petitions made in their letter, was a proposal that countries submit specific plans to ensure that the rise in global temperature remains well below 2°C.
In addition, it was suggested that governments should submit long-term plans for the mitigation of climate change, the use of sustainable energies and the development of nationally determined contributions (NDCs) to strengthen future efforts, which were accorded in Paris in 2015.