180 Of The World’s Largest Investors (With $13 Trillion) Want Climate Legislation Passed
Wildlife has a whole bunch of new friends. As the Senate considers climate legislation and the world readies itself for the global climate negotiations in Copenhagen a powerful and welcome group of investment funds and banks are speaking out:
Hermela Brook of Zikkir Business News Forum reports:
[The group includes] the world’s leading investment funds, including those from HSBC, Henderson, Schroders, Société Générale and Scottish Widows, and pensions funds from California public employees to the BBC and Church of England. It was aimed at overcoming entrenched opposition within the US and elsewhere to climate change legislation, by showcasing the scale of investor support for climate change action and the potential for mobilisation of private capital.
“For anybody who suggests that regulating carbon or acting on climate change is impractical, here is appropriate contradiction,” said Mindy Lubber, the president of Ceres, the green investor network that helped organise the conference. However, she warned: “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.”
The investors’ endorsement for action on climate change comes amid signs of a loss of momentum in the final stretch of negotiations towards a deal to tackle global warming in Copenhagen in December. The group warned that failure to act effectively would have disastrous consequences in human and economic terms.