Shareholders have turned up the heat on the world's 100 biggest polluting companies including Australian firms BHP Billiton, Wesfarmers and Rio Tinto, in the first coordinated global effort by investors to force corporate action on climate change.
The Climate Action 100+ initiative, to be launched in Paris on Tuesday evening eastern standard time, will target 100 global companies responsible for an estimated 15 per cent of global emissions.
It includes Australian investment giants Australian Super, AMP Capital, VicSuper, First State Super, Hesta and Cbus.
Ms Herd cited Exxon Mobil, the world's biggest oil company, which was this year forced by a shareholder vote to be more transparent about the impact of climate change on its business.
The methodology used to compile the list included direct and indirect emissions, as well as emissions from transport and product consumption.