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A group of 32 investors managing $7.3 trillion in assets have urged the G20 group of wealthier countries to align agricultural subsidies with their climate and nature goals by the end of the decade, a statement seen by Reuters showed. The group, which includes Britain's biggest asset manager Legal & General Investment Managers and the fund arm of BNP Paribas, issued their first ever call to the countries' finance chiefs ahead of a G20 summit in September in India. The intervention marks the first time investors have grouped together to tackle global subsidies in this way, they said, and follows a narrower 2021 request to the European Union, amid concern about the risks to investment portfolios of inaction.

City ofUnited kingdomFrance generalUnited arab emiratesRachel crossleyHelena wrightSusan fentonSimon jessopAgriculture organizationUnited nationsEuropean unionGeneral investment managersParis agreementAsset managementAgricultural subsidiesG20 summit