Investors demand stronger climate treaty
GLOBAL - Investors responsible for more than $13trn (€8.8trn) in assets have called for strong action from policymakers in the fight against climate change.
The 181 investors who signed the 2009 Investor Statement on the Urgent Need for a Global Agreement on Climate are now demanding a strong and binding international treaty be signed that will reduce pollution and catalyse global investments in low-carbon technologies to succeed the Kyoto Protocol.
The statement calls for the following elements to be included in a global climate change treaty:
"What we need is to create policies that create stable market conditions, policies that will end the boom and bust of renewable technologies like wind and water," said Mindy Lubber, president of investor network Ceres and director of the Investor Network on Climate Risk (INCR) at the Climate Change Forum in New York yesterday, which was keynoted by British economist Lord Nicholas Stern.
"Without policies to encourage clean energies and discourage high polluting technologies investors are stuck at the starting gate in the green race for a low carbon economy. We want them out of the starting gate, we want them racing away in every country."
The statement comes ahead of this December's key negotiations in Copenhagen to ratify a new international climate change treaty after the Kyoto Protocol expires in 2012.
Members of the UN EPFI group include many pension funds such as UK local authority pension funds, the Swedish AP-fonden, Fira Pensions Scheme, FRR, KPA Pension and Pensionfonds Vervoer, alongside asset management houses. The complete list of signatories can be viewed on www.unepfi.org/investorstatement.
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