Big investors say they will pull almost $1tn out of fossil fuel firms in the next decade, according to a new report — findings that suggest advocates for green and sustainable finance are having real impact with their campaigns.

The report, based on a survey of 100 pension funds, insurers, sovereign funds and endowments collectively managing $5.9tn, found the investors planning to shift 15.6% of their portfolios out of coal, oil and gas over the next ten years — equivalent to $920bn.