During the 2018 UN Climate Change Conference (COP24), a group of investment funds demanded faster action on climate change by accelerating the pace of commitments made under the Paris Agreement. The group of 415 funds, with a combined $32 trillion under management, called on governments and businesses to act faster, including phasing out steam coal: by 2030 in the OECD, by 2045 in China and by 2050 globally.