Fossil fuel bosses must change or be voted out, says asset manager

The Guardian | Oct 12, 2019 at 11:02 AM
  • The world’s biggest fossil fuel companies must take action on climate change or their directors could face being voted out of their jobs, the head of one of the world’s leading asset managers has warned.
  • Large asset managers such as BlackRock and Vanguard have faced criticism for routinely voting against efforts to improve climate-related financial disclosures, appointing board directors to deal with climate-related business risk and publishing substantive emissions data.
  • Negative emissions technology such as carbon capture has been put forward by the oil and gas industry as a solution to the climate crisis, but there is widespread scepticism about its long-term viability.