Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 biggest economies meeting this week.

In an open letter to the “governments of the world” seen by Reuters, groups representing 477 investors stressed “the urgency of decisive action” on climate change to achieve the Paris Agreement target.

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A U.N.-backed panel of scientists has said limiting global warming to 1.5C would cost at least $830 billion a year but the cost of inaction is thought to be much higher.

Source: Exclusive: Investors with $34 trillion demand urgent climate change action – Reuters