Climate Economics

Large Investors say we need Climate Legislation, Treaty

Large investors speaking out for robust climate policies and legislation

 

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Disclosing Climate Risks (Ceres)

Here is the Ceres guide for disclosing climate risks for corporate executives, attorneys & directors

Ceres is an advocate for sustainability leadership. Ceres mobilizes a powerful network of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy.

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  Investor statement November 2010


BOSTON - The world's largest global investors have a powerful message for climate negotiators in Cancun and the new U.S. Congress: take action now in the fight against global warming or risk economic disruptions far more severe than the recent financial crisis.

Citing potential climate-related GDP losses of up to 20 percent by 2050 and the economic benefits of shifting to low-carbon and resource-efficient economies, investors released a major statement today calling for national and international policies that will spur private investment into low-carbon technologies.

The statement was signed by 259 investors from North America, Europe, Asia, Australia, Latin America and Africa with collective assets totaling more than $15 trillion—more than one-quarter of global capitalization. Signatories included Allianz, HSBC, APG and a dozen U.S. public pension funds and state treasurers. It is the largest-ever group of investors to call for government action on climate change.

The statement is HERE.

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Investor statement January 2010

"On 14 January 2010 the world’s largest investors released a statement calling on the U.S. and other governments to quickly adopt strong national climate policies that will establish a stable investment climate and thus spur low-carbon investments to reduce emissions causing climate change. At December’s Copenhagen Climate Change Summit it was estimated that private-sector investors will need to finance more than 85 percent of the global transition to a low-carbon economy.

The Investor Statement on Catalyzing Investment in a Low-Carbon Economy calls for rapid action on carbon emission limits, energy efficiency, renewable energy, financing mechanisms and other policies. The statement was endorsed by four groups representing more than 190 investors with more than US$ 13 trillion of assets – Investor Network on Climate Risk (INCR), Institutional Investors Group on Climate Change (IIGCC), Investor Group on Climate Change (IGCC) and the United Nations Environment Programme Finance Initiative (UNEP FI)."

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Investor Statement 2009

This is the earlier statement of 2009, also from the UNEP Financial Initiatives website:

"The times when the private sector was against determined action on climate change are over.

181 leading investors and financial institutions responsible for the fiduciary management of USD 13 trillion – the backbone of the global economic system - have today unveiled a Statement on the Urgent Need for a Global Agreement on Climate Change, to be agreed on in Copenhagen this year at the UN climate change conference (COP 15 of the UNFCCC).

Endorsed by developed and developing country investors, this landmark Statement specifies the elements that the upcoming climate change deal must feature so as to unlock institutional investment and finance sector skills - at the needed scale - into the development of a low-carbon and climate-change resilient global economy. Central to the Statement is the science-based demand for a global target for emission reductions of 50-85% by 2050, and developed country emission reductions targets of 80-95% by 2050."

More details available here.

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Deutsche Bank Statement

"You just throw your hands up and say ... we're going to take our money elsewhere," said Kevin Parker in an interview with Reuters.

Parker, who is global head of the Frankfurt-based bank's Deutsche Asset Management Division, oversees nearly $700 billion in funds that devote $6 billion to $7 billion to climate change products.

Amid so much political uncertainty in the United States, Parker said Deutsche Bank will focus its "green" investment dollars more and more on opportunities in China and Western Europe, where it sees governments providing a more positive environment.

"They're asleep at the wheel on climate change, asleep at the wheel on job growth, asleep at the wheel on this industrial revolution taking place in the energy industry," Parker said of Washington's inability to seal a climate-change program and other alternative energy incentives into place.

"We've said that we're going to put our capital in places where we can get our arms around regulatory risk," Parker said. And what that required, he said, were government policies that provide "transparency, longevity and certainty."

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Deutsche Bank Asset Management has a climate change investment initiative. This involves a "...coordinated strategic plan to address investment opportunities presented by climate change, working with each of DeAM’s businesses to develop specific products and coordinating the firm’s Climate Change Investment Committee."

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Deutsche Bank Climate Change Electronic Billboard

Pictured at the top of the page, it was in New York next to Penn Station. Picture courtesy of J. Dash's Iphone, 3 Feb 2011. Deutsche Bank is living up to its corporate responsibilty.

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Glossary

Citation

(2013). Large Investors say we need Climate Legislation, Treaty. Retrieved from http://climate.uu-uno.org/view/news/51cbeb747896bb431f688935

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