Investers urge swift action on climate change

22/1/2010 Guardian Weekly  More than 450 investors controlling $13 trillion of assets last week urged world   governments…. to pre-empt an international climate change treaty and take immediate   action on global warming,

or risk losing the opportunity to establish a clean and   sustainable low-carbon economy.
  At a conference at the UN in New York, the first gathering of business leaders since the   Copenhagen

 climate summit said governments had to adopt policies that gave a clear   direction towards a clean energy economy.

 Copenhagen made only “incremental”   progress, the investors said, and governments needed to act now to reset domestic  

 agendas, with policies to limit greenhouse gas emissions and lay foundations for a carbon   market.
  Peter Dunsombe, chairman of the IIGCC, a network of European investors, said: “Leaders   from both

 developed and developing countries need to act now to compensate for the lack   of progress.

” The group of 450 investors from Europe, America and Australia said:   “Investors remain committed to taking action.

But for us to deploy capital at the scale   needed to truly catalyse a low-carbon economy, policy makers

 must act swiftly.” The   investors called for speedy development of green building practices, cleaner cars and   public transit systems.
  The Obama administration’s top climate change envoy, Todd Stern, told the conference,  

organised by the Ceres green investment network, that this year was crucial for working 

  towards a climate change treaty. America and other countries would be working hard to   flesh out a

12-paragraph accord brokered by Barack Obama and the leaders of China,   India, Brazil and South Africa,

 especially on sharing clean energy technology and   mobilising a global fund to help poor countries adapt to climate change.
  Go to: