Investors Managing $6.6 Trillion Call for Funding Carbon Removal
- Mix of solutions ‘must be scaled massively and rapidly’: group
- Carbon credits should be standardized with COP26 approaching
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Investors managing a collective $6.6 trillion are pressing the finance industry to boost funding for carbon-removal methods and standardize pollution credits as part of the effort to keep global warming within 1.5 degrees Celsius of pre-industrial levels.
Cutting the amount of carbon dioxide in the atmosphere should remain the primary focus for investors, according to a position paper from the United Nations-convened Net-Zero Asset Owner Alliance, a consortium of asset managers. As much as 1.2 billion metric tons of the greenhouse gas must be removed annually by 2025 to meet the goals laid out by the Paris Agreement.