A group of major institutional investors called Wednesday for a global effort to cut greenhouse gas emissions by 50% to 85% by 2050 from 1990 levels.
The call comes ahead of key meetings on the topic at the United Nations and elsewhere.
Faced by delays in the U.S. over climate change legislation and global meetings later this year in Copenhagen to update the Kyoto Protocol, a group of 181 investors managing $13 trillion in assets weighed in with a joint statement to help produce action by political leaders around the globe.
"Today's investor statement is the largest of its kind on climate change in world history," according to the group, which held a press conference at the Grand Hyatt Hotel.
Thomas P. DiNapoli, the New York state comptroller who overseas $117 billion in pension funds for the state, said investors play a crucial role in climate change measures.
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