The world's richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that together manage trillions of dollars in assets.
LONDON - The world’s richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that together manage trillions of dollars in assets.
The intervention comes as more governments start to plan for the lifting of lockdown restrictions that have cratered the revenues of companies from airlines to retailers and radically changed the economics of the energy sector. “Governments should avoid the prioritisation of risky, short-term emissions-intensive projects,” added the groups, which include the Institutional Investor Group on Climate Change, members of which include BlackRock.
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