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Calls for short-term targets in line with IEA report Also says need to demonstrate emerging technology works LONDON, Aug 4 (Reuters) - Steelmakers need to take urgent action on producing less carbon in order to meet the Paris Agreement on climate change, investors managing $55 trillion in assets said on Wednesday. Emissions from steel production account for 9% of the global total and must fall 29% by 2030 and 91% by 2050 to meet the net zero scenario laid out by the International Energy Agency in May, the Institutional Investors Group on Climate Change said. The IIGCC, as part of the Climate Action 100+ initiative, said in a statement that while it was technically feasible to reach net zero greenhouse gas emissions by mid-century, the steel industry was being too slow to act.

France generalCity ofUnited kingdomSimon jessopStephanie pfeiferAlexander smithThomson reuters trust principlesInstitutional investors group on climateParis agreementInternational energy agencyInstitutional investors groupClimate changeClimate actionExecutive stephanie pfeiferKobe steelThomson reuters trust