Investor groups representing more than $22.5 trillion in assets are calling for more decisive action to slow down climate change and its negative effect on world economies.
They seek an active role in shaping the solutions and are forming an organization called the Global Investor Coalition on Climate Change (GIC) to represent the investment community on climate change policy and investment issues.
“Strong carbon-reducing government policies are an urgent imperative. Hurricane Sandy, which caused more than $50 billion in economic losses, is typical of what we can expect if no action is taken and warming trends continue,” says Chris Davis, director of investor programs at Ceres and the North American Investor Network on Climate Risk (INCR). “Investors are rightly concerned about the short and long-term economic risks of climate change and understand that ambitious climate and clean energy policies are urgently needed to avoid catastrophic impact.”
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