With more than $24 trillion in combined assets, a group of 340 global institutional investors has issued the largest-ever call for a consistent, dependable carbon pricing regime. “Stable and economically meaningful carbon pricing will help channel investments in the right direction to match up to the huge climate change challenge, as well as allow for faster development of plans to phase out subsidies for fossil fuels worldwide,” Justmeans reported September 19, days before the UN Climate Summit in New York. “The statement says that gaps, weaknesses, and delays in clean energy policies and climate action will only increase the risks to their investments and lead to a likelihood of more radical policy measures being required to cut down carbon emissions.” Ceres President Mindy Lubber said the global financial community “has given a clear message for the heads of state gathering at the UN next week that the world cannot afford to wait any longer for a climate deal,” Vij writes.
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