WBA-led Investors Call on Oil and Gas Companies to Back Just Transition

Investors have called for oil and gas companies to take “significant steps” to ensure a just transition to net zero by engaging in robust transition planning that incorporates time-bound, measurable indicators of social impacts. The statement, which has been signed by the Local Authority Pension Fund Forum, AkademikerPension and Ethos Foundation and others, is part of the NGO World Benchmarking Alliance’s (WBA) Just Transition Collective Impact Coalition and is in coordination with investor-led engagement initiative Climate Action 100+. The call to action follows WBA’s Just Transition Assessment, which highlighted that companies are failing to identify, prepare and mitigate the social impacts of their low-carbon strategies. The assessment further noted a lack of accountability and action. The statement said: “Time is running out to tackle the climate crisis. Planning for a transition that is just for the people and communities affected is not only the right thing to do – it’s the best way of getting to where we need to go.” 

 

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