You're reading: Reuters: Investor group calls for banks to set tougher climate targets

Reuters: Investor group calls for banks to set tougher climate targets

Published April 19, 2021. Updated April 19 at 4:06 am

DENALI, ALASKA - SEPTEMBER 17: A landscape is seen on September 17, 2019 near Denali, Alaska. Permafrost which is found to some extent beneath nearly 85 percent of Alaska has been melting due to earths rising temperatures. Reports indicate that as the permafrost melts, it releases carbon dioxide which adds to the greenhouse gas effect that continues to warm the planet. Joe Raedle/Getty Images/AFP (Photo by JOE RAEDLE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Photo by Getty Images via AFP

A group of investors managing $11 trillion in assets has called on banks to set tougher emissions targets ahead of a meeting of world leaders aimed at accelerating efforts to fight climate change. The group, which includes Pimco, the world’s biggest bond investor, and Britain’s biggest asset manager, Legal & General Investment Management, said they wanted lenders to set ‘enhanced’ pledges to decarbonise their lending books.