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Global Investors Tell Governments To Enact Policies To Combat Climate Change

Global Investors Tell Governments To Enact Policies To Combat Climate Change

Trillions of dollars need to be invested in clean technology, and governments need to enact policies that will combat climate change, according to 259 investors from North America, Europe, Asia, Australia, Latin America and Africa. The investors, who have collective assets over $15 trillion (more than a quarter of global capital), issued a statement which called on governments to enact the following policies:

  • Short, mid and long-term greenhouse gas reduction targets
  • Energy and transportation policies to accelerate deployment of energy efficiency, renewable energy, green buildings, clean vehicles and clean fuels
  • Strong and sustained price signals on carbon emissions and well-designed carbon markets
  • Phase out fossil-fuel subsidies, as agreed to by G-20 leaders in 2009
  • Adaptation measures to reduce unavoidable climate change impacts
  • Corporate disclosure of material climate-related risks

The statement points out that present investment levels are not high enough. Global clean tech investments are expected to be over $200 billion this year, up a bit from last year. Bloomberg new Energy Finance and the World Economic Forum say $500 billion a year is needed to restrict warming to less than two degrees. “Private investment will only flow at the scale and pace necessary if it is supported by clear, credible, and long-term policy frameworks that shift the risk-reward balance in favor of less carbon-intensive investment,” the statement said.

“Current investment levels fall well short of what is needed to stem the rise of global temperatures and adapt to a warming world,” said Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk. “Strong government policies that reward clean technologies and discourage dirty technologies are essential for closing the climate investment gap and building a low-carbon global economy.”

“The nation’s leaders should take the cue from California, where strong clean energy policies have spurred American innovation and created thousands of jobs,” said Jack Ehnes, chief executive officer of the California State Teachers’ Retirement System, the nation’s second largest public pension fund with $141 billion in assets.

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62 comments

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11:51AM PST on Dec 16, 2010

Follow the money, the businesses that sell green tech are all for the subsidies, tble is you and I pay a lot extra. As far as jobs, net jobs are actually minus, see what happened in Spain with their green policies, the most agressive in Europe. Huge debt and many lost jobs, welfare is much much cheaper.

Even California wont allow solar panel farms in California, they had to go to Arizona.

7:06AM PST on Nov 29, 2010

This is very true.

12:17AM PST on Nov 24, 2010

Global warming and the unsavory machinations of the global banking/corporate consortium will combine to create the most unlevel, unfair, artificial global "playing field" imaginable. The elite few will retreat to elaborate, self-contained bunkers while the rest of us die off in droves as glaciers and the rivers they feed dry up, lowlands are submerged, drought and other disasters decimate crops and livelihoods. Vast hordes of the displaced will be constantly on the move, no one will have the $$$ to sustain them, and human conflict of every kind will rage over dwindling resources. That's my prediction. But don't worry, most of us won't be around to see the worst of it. Too bad for the kids, though. Happy Thanksgiving, everyone!

7:00AM PST on Nov 22, 2010

First thing you have to do is get big oil and industry out of teh pocketbooks of the politicians that are suppose to be working for US not them!!!

6:30PM PST on Nov 21, 2010

It's really about the governments at this point. Individual efforts like using compact fluorescent light bulbs do help, but people should consider putting that energy into helping the global movement at a more local level, for instance getting a petition to your local congress person or government representative asking that he/she take no further contributions from fossil fuel industries (a big part of the Greenpeace's Energy [R]evolution Campaign). That's my opinion anyway!

8:25AM PST on Nov 21, 2010

Isn't it always the way - a fantastic invention comes on the scene and it it bought off by big business to prevent it from coming on the market. I agree with Alan and we have to find out what happened to the Sunball.

7:52PM PST on Nov 20, 2010

If these investors are fairdinkum they will just refer to SUNBALL,seen on "The New Inventors" ep.38 26/10/2005 The BEST solar unit yet invented,about the size of a basketball situated on your roof it can power half your house! Yet it "disappeared" Let,them demand that it be returned to us & I,ll believe they are true to humanity!

8:48PM PST on Nov 18, 2010

If your going to sink a trillion dollars into subsides anyway why not do it for the cars of the future. I sure once people start buying the price will come down anyway. But it takes a global initiative and everybody has to play by the same rules.

8:16PM PST on Nov 18, 2010

I don't see why investors would invest in clean energy if there weren't good returns on their investments. For example, government subsidies on clean energy initiatives, and commitments from energy users to use clean energy.

6:15AM PST on Nov 18, 2010

switch off your refrigerators

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