Top Investment Funds Warn of Need for Action on Climate Change

Celsias

moneyA group  of 200 investment institutions including HSBC, and Aviva  and controls $21 trillion (£13 trillion) of assets worldwide is lobbying ministers as part of a broader campaign for action from leading global economies, The Independent   reports. This is hardly the radical green fringe , but rather analysts who see the financial costs and know that it is completely unsustainable.

 The report highlights growing concerns over the economic impact of global warming among financial institutions, and their inability to meet the costs. 

"Hurricane Sandy, which caused more than $50bn (£31bn) in economic losses, is typical of what we can expect if no action is taken and warming trends continue," Chris Davis, a member of the alliance who advises institutions controlling $11 trillion on climate-change issues, told the Independent.

In a letter to the governments, ahead of the international climate negotiations that kick off in Doha on Monday, the alliance urges "a new dialogue on climate-change   policy" and "predictable policies that encourage low-carbon investment".

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  • Posted on Nov. 21, 2012. Listed in:

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