The $32 Trillion Pushing Fossil Fuel CEOs to Act on Climate Change
- Glencore, Shell and BP were targeted by Climate Action 100+
- More companies are yielding to investor pressure on emissions
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Behind Glencore Plc’s decision to limit coal investment is a little-known, but powerful group of investors.
Glencore made its decision after facing pressure from a shareholder network known as Climate Action 100+, which has the backing of more than 300 investors managing $32 trillion. The group was founded a little over a year ago, but has already extracted reforms from oil heavyweights, like BP Plc and Royal Dutch Shell Plc.