* Climate Action 100+ aims to curb greenhouse gas emissions
* Grupo Mexico, Pemex and Uniper also added to focus list
By Simon Jessop
LONDON, Nov 18 (Reuters) - One of the world's leading
investor groups pushing for more corporate action on climate
change said it has added Saudi Aramco, the world's largest oil
producer, to its list of target companies.
Climate Action 100+, the 450 members of which manage more
than $47 trillion in assets, seeks to engage with the companies
responsible for much of the world's greenhouse gas emissions to
encourage the transition to a low-carbon economy.
Specifically, it wants each company to commit to emissions
cuts in line with the Paris Agreement on climate change,
implement strong climate governance frameworks and improve
climate-related disclosures.
The group has already achieved some success with its
strategy, including at oil majors Royal Dutch Shell and
BP, which this year announced long-term strategies in
response to climate change.
Climate Action 100+ has accelerated engagement with
impressive results, the group's chair, Laetitia Tankwe, said
after it announced the new additions to its list of targeted
companies.
"These additions present a strategic opportunity to further
curb emissions and enable the transition to a net-zero future by
2050," she said. "We welcome the opportunity to support
signatories in these new engagements."
In a periodic review of the companies covered by the
inititative, CA100+ said it had added eight others to the focus
list, including copper miner Grupo Mexico and
Colombian industrial company Grupo Argos.
Australian chemicals companies Incitec Pivot and
Orica, Papua New Guinea-focused Oil Search,
Indian construction company UltraTech Cement, German
power utility Uniper and Mexican state oil company
PEMEX round out the new additions.
Two companies were removed: U.S. miner Southern Copper
was replaced by its parent, Grupo Mexico, while
Australian retailer Wesfarmers was cut after a
fundamental restructuring of the company, the investor group
said, leaving 167 companies on the focus list.
(Reporting by Simon Jessop
Editing by David Goodman)
BP (BP.)
