By Simon Jessop

LONDON (Reuters) -Funds managing nearly $30 trillion in assets called on Wednesday for 1,600 of the world’s most polluting companies to “urgently” set science-based emissions reduction targets.

Fidelity and Amundi were among the 220 investors who demanded targets to reduce global warming by no less than 1.5 degrees Celsius from pre-industrial levels.

Just over a month ago, world leaders met in Britain to discuss the next round of international climate negotiations. All countries are challenged with setting tougher targets due to the increasing severity of climate change.

In a statement, the group stated that 11.9 billion tons of Scope 1 or Scope 2 emissions were attributed to the operations of the concerned companies. This is more than both the United States and the European Union combined.

According to the group, Hyundai Motor Company (OTC), BASF Chemicals and Lufthansa German Airlines were some of those that had been approached.

Lufthansa spokespeople referred to the company’s pledge to become net-zero by 2050 and to halve net carbon emissions by 2030.

Hyundai’s spokesperson referred back to a September 6 statement, in which it stated that the company was committed to carbon neutrality by 2045. The increase in zero emission vehicle sales helped.

BASF didn’t immediately reply to our request for comment.

Non-profit transparency platform CDP coordinated the gathering. The institutions asked that each company set goals through the Science-Based Targets Initiative. Independent bodies verify their robustness.

Barnaby Wiener of MFS Investment Management, chief sustainability and stewardship, stated that long-term investors who want to allocate capital responsibly expect portfolio companies to create, commit to, and implement science-based emission reduction plans in accordance with the Paris Agreement.

While the statement did not detail what, if any, action would be taken by signatories if companies do not comply with its requests for assistance or not taking appropriate steps to address it as requested in their statement, shareholders have the right to use their voting power to force change.