More than four-fifths of fund managers say they are pressuring oil companies to tackle climate change. However, far fewer are prepared to back that up with sanctions such as voting against directors, according to new research.

The UK Sustainable Investment and Finance Association polled 39 large asset managers, collectively responsible for $10.2tn, and found 86% said they have called on oil companies to adopt specific goals set out in the 2015 Paris climate accord.