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Wednesday 03rd of February 2010
September 17, 2009    

Investors call for government climate action

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by David Masters

More than 180 of the world’s biggest investors have called on world leaders to work together on fighting climate change.

A collective statement from the investors, with collective assets of over $13 trillion, said all countries must commit to a low-carbon future.

“From an investment perspective it is critical that developing countries, especially the highest emitters, commit to such targets as soon as possible to reduce policy uncertainty and drive low-carbon investment,” the statement said.

According to the firms who signed the statement, global warming presents a major risk to investments and the world’s economy.

“We cannot drag our feet on the issue of global climate change,” said Thomas DiNapoli, head of the $117 billion New York state pension fund.

“I am deeply concerned about the investor risks climate change presents, and the human cost of inaction is unthinkable.”

Nicholas Stern, chair of the Grantham Research Institute on Climate Change at the London School of Economics, added: “Unmitigated climate change poses a threat to the global economy.

“Building a low carbon economy creates opportunities for investment in new technologies that promise to transform our society in the same way as the introduction of electricity or railways did in the past.”

Governments must take the lead with climate change legislation to make green technologies investable, the investors claimed.

“Investors are ready to put money into green tech, but they are not going to act until the government acts and makes clear that the right incentives are in the right place,” said Mindy Lubber, president of green investor network Ceres.

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1 Comment »

  1. If the findings of CBO over the cost of “Inaction” had been released at the beginning of conversation about health care, surely Ted Kennedy could’ve seen his lifetime wish come through, saving enormous time, energy and money nation-wide.

    ((Some of CBO analysis : While the costs of the financial bailouts and economic stimulus bills are staggering, they are only a fraction of the coming costs from Social Security, Medicare, and Medicaid. Over the next decade, the Congressional Budget Office (CBO) projects that each year Medicaid will expand by 7 percent, Medicare by 6 percent, and Social Security by 5 percent. These programs face a 75-year shortfall of $43 trillion-60 times greater than the gross cost of the $700 billion TARP financial bailout)).

    And supposedly the same is of conversation over the highly-anticipated energy independence. Nowadays, the world-wide overpopulation growing consistently is using up tremendous fossil fuel at an alarming pace as the own conventional resources in some dense countries is facing drastic dent.

    For that reason, it is widely accepted that the price of fossil fuel is expected to go up and up simply, which is behind major states taking a bold and speedy action in a bid to put the global economy on a solid ground.

    As with well-structured public option, sustainable option is holding down the runaway price of fossil fuel by joining force throughout the world as the world economy is tightly interconnected just like Internet down the line.

    In brief, it will be noteworthy that we are living in a time Ecology & Economy, and Public Health & Financial Health are inseparable.

    Comment by hsr0601 — September 20, 2009 @ 5:52 am

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