By Dominic Chopping

STOCKHOLM--Investor AB said Monday that it has sharpened its climate targets further and joined the United Nations Framework Convention on Climate Change's Race to Zero campaign ahead of the COP26 climate-change conference.

Investor's new targets are aligned with limiting global warming to 1.5 degrees above pre-industrial levels, it said.

"Today we are announcing new and updated targets, as high ambitions and decisive actions will be necessary to reach a sustainable and low-carbon economy," said Chief Executive Johan Forssell.

"Accelerating the work to address climate change is important for the long-term competitiveness of our companies and ultimately to create long-term value," he said.

Investor said it now commits to reaching net-zero emissions in its operations by 2030, reducing emissions by 70% by 2030 for its aggregated portfolio of companies compared to 2016 and reaching net zero emissions across its value chain by 2050 at the latest.

It will also encourage all portfolio companies to align with the Paris Agreement and when relevant, to commit to Science Based Targets, and to report climate-related risks and opportunities in accordance with the Task Force on Climate Related Financial Disclosure framework.

Investor's previous climate targets included reducing its emissions, in its operations and from a portfolio perspective, by 50% by 2030.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

September 27, 2021 03:33 ET (07:33 GMT)