Earth Equity News

Major Invester Groups Call for 'Strong and Binding' Global Climate Deal. Press Release, CERES.org , November 11, 2008. "More than 130 leading investors, representing assets worth $6.4 trillion, today warned world leaders that any global agreement on climate change must be strong and binding to guarantee necessary financing for global emissions reduction and adaptation efforts, and that the financial crisis should not delay efforts to address rising global temperatures. In a joint Statement sent to Heads of State and climate negotiators, investors called for a strong, binding framework to succeed the Kyoto Protocol, warning that clear and long-term policy signals are essential if investors are to allocate the huge amounts of private capital required to fund the transition to a low-carbon economy. The Statement was sent by some of the world's largest asset managers and pension funds, collectively representing $6.4 trillion in assets. It was co-ordinated by three leading investor groups on climate change (the US-based Investor Network on Climate Risk (INCR), the European Institutional Investors Group on Climate Change (IIGCC), and the Investors Group on Climate Change (IGCC), bases in Australia and New Zealand. Peter Dunscombe, Chairman, Institutional Investors Group on Climate Change, said that: 'We are urging world leaders to provide the policy framework that will help investors drive the financial flows necessary to address this urgent crisis. A strong global agreement will provide companies, governments and investors with the incentives to act quickly and efficiently in tackling climate change.'"