Thursday, November 29, 2012

Influential investors call for action on ‘serious climate danger’


    A coalition of global investors said extreme weather was increasing investment risks and could disrupt economies

    A coalition of the world's largest investors called on governments on Tuesday to ramp up action on climate change and boost clean-energy investment or risk trillions of dollars in investments and disruption to economies.

     In an open letter, the alliance of institutional investors, responsible for managing $22.5 trillion in assets, said rapidly growing greenhouse gas emissions and more extreme weather were increasing investment risks globally.

     The group called for dialogue between investors and governments to overhaul climate and energy policies.
The call comes less than a week before major UN climate talks in Doha, Qatar.

     Almost 200 nations will meet in Doha from 26 November to 7 December to try to extend the Kyoto protocol, the existing plan for curbing greenhouse gas emissions by developed nations that runs to the end of 2012.

     On Monday, the World Bank said current climate policies meant the world was heading for a warming of up to 4C by 2100.

     That will trigger deadly heat waves and droughts, cut food stocks and drive up sea levels.
"Current policies are insufficient to avert serious and dangerous impacts from climate change," said the group of investors from the United States, Europe, Asia and Australia.
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