Money Talks: The $15-trillion Investors Taking on Climate Change COP16 Climate Change Policy Demanded by Investor Group Worth $15 Trillion
A group of investors-collectively worth as much as the U.S. GDP-have signed a United Nations call for a coordinated climate policy.
A group of investors—collectively worth as much as the GDP of the United States—have signed a United Nations statement calling for a coordinated international policy on climate change. Their message, as you'd expect from the stewards of $15 trillion, isn't moral so much as it is economic. Specifically, the investors argue that a damaged planet will hurt business, and they estimate as much as a 20 percent drop in GDP by 2050 if action isn't taken to shift investments to low-carbon technologies.
Signatories of the statement come from 259 organizations on every continent except Antarctica. Major international banks, like HSBC and Alianz, joined with the U.N. Environment Program, a dozen U.S. pension funds, and developing world investment firms and banks.