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Climate Change manhattan

Published on September 18th, 2009 | by Zachary Shahan

17

100s of Investors (with $13 Trillion) Demand Strong Climate Deal in Copenhagen

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September 18th, 2009 by Zachary Shahan 

181 of the world’s largest investors say that the climate agreement in Copenhagen needs to be strong and binding.

This is from companies managing over $13 trillion and is the largest such statement to date. Their proposals are even stronger than what most activist organizations are asking for.

Top investors are pushing the US and other leaders to put their money and their policies into stopping global warming/climate change as soon as possible. This joint statement by these international giants was released at an “International Investor Forum on Climate Change” in New York on Wednesday.

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Environmentalists and Investors

New York State Comptroller Thomas P. DiNapoli, who is the head of the $116.5 billion New York State Common Retirement Fund, asserted: “We must chart a new course toward long-term, sustainable business practices.” He went on to say, as if he were a leading environmental activist as well as a businessman: “We cannot drag our feet on the issue of global climate change. I am deeply concerned about the investor risks climate change presents, and the human cost of inaction is unthinkable. As investors in the global economy, we can lead the way toward a future of lasting prosperity.”

The investors are ready to invest in technologies and business that address the climate change risk, but say that governmental policies need to be put in place that do not prevent them from doing so. Mindy S. Lubber, president of Ceres and director of the Investor Network on Climate Risk, said: “Investors have a crucial role to play in building a low-carbon, energy efficient global economy. But without strong policies that encourage clean technologies and discourage high-polluting technologies, their hands are tied.”

Economic Potential

The investors didn’t fail to mention that there is great economic potential in transforming our societies to address climate change. British keynote speaker at the forum, Lord Nicholas Stern (chair of the Grantham Research Institute on Climate Change at the London School of Economics and Special Advisor to the Group Chairman of HSBC on Economic Development and Climate Change), said: “building a low carbon economy creates opportunities for investment in new technologies that promise to transform our society in the same way as the introduction of electricity or railways did in the past.”

No Small Policies

Measures the investors say need to be in the international climate agreement are extremely strong and include:

•A global target for emissions reductions of 50-85% by 2050 (1990 baseline)

•Developed country emissions reduction targets of 80-95% by 2050 with interim targets of 25-40% by 2020 backed up by effective national action plans

•Developing country action plans that deliver measurable and verifiable emission reductions

•Government support for energy efficient and low carbon technology

•Measures that support the move to an effective global carbon market, including ambition caps, fair and efficient allocation of allowances and links between different trading schemes

•Revisions to the Clean Development Mechanism to ensure real, permanent and verifiable emission reductions

•Public financing mechanisms that leverage private sector finance for investment in developing countries

•Measures to reduce deforestation and promote afforestation

•Support for adaptation to unavoidable climate change impacts

The business world, leading companies and investors seem ready to address the climate change problem. Will political leaders get behind strong climate policies as well?

For more on this topic, read:

1) United Nations (UN) Shames Rich Nations for Climate Change Funding — Needs to Be About $500-600 Billion Higher

2) The US is Driving Other National Positions Leading into Copenhagen

3) Future of Global Cooperation on Climate Change: From the US to India and Back

Image Credit 1: midweekpost via flickr under a Creative Commons license

Image Credit 2: JohnLeGear via flickr under a Creative Commons license

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About the Author

spends most of his time here on CleanTechnica as the director/chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of Solar Love, EV Obsession, Planetsave, or Bikocity. Zach is recognized globally as a solar energy, electric car, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media. You can connect with Zach on any popular social networking site you like. Links to all of his main social media profiles are on ZacharyShahan.com.


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  • Zachary Shahan

    @Susan: i adjusted the title. thanks for the tip. went back & forth on that for several times before posting it in the first place :) thanks

  • Susan Kraemer

    Misleading title – It is not “companies” with trillions, but investor groups that manage trillions on behalf of others.

    These are even more focused on making profitable investments (as that is their fulltime job.)

    Companies typically are focused on making a profit off their primary business(es)

  • Susan Kraemer

    Misleading title – It is not “companies” with trillions, but investor groups that manage trillions on behalf of others.

    These are even more focused on making profitable investments (as that is their fulltime job.)

    Companies typically are focused on making a profit off their primary business(es)

  • Susan Kraemer

    Misleading title – It is not “companies” with trillions, but investor groups that manage trillions on behalf of others.

    These are even more focused on making profitable investments (as that is their fulltime job.)

    Companies typically are focused on making a profit off their primary business(es)

  • HSR0601

    If the findings of CBO over the cost of “Inaction” had been released at the beginning of conversation about health care, surely Ted Kennedy could’ve seen his lifetime wish come through, saving enormous time, energy and money nation-wide.

    ((Some of CBO analysis : While the costs of the financial bailouts and economic stimulus bills are staggering, they are only a fraction of the coming costs from Social Security, Medicare, and Medicaid. Over the next decade, the Congressional Budget Office (CBO) projects that each year Medicaid will expand by 7 percent, Medicare by 6 percent, and Social Security by 5 percent. These programs face a 75-year shortfall of $43 trillion–60 times greater than the gross cost of the $700 billion TARP financial bailout)).

    And supposedly the same is of conversation over the highly-anticipated energy independence. Nowadays, the world-wide overpopulation growing consistently is using up tremendous fossil fuel at an alarming pace as the own conventional resources in some dense countries is facing drastic dent.

    For that reason, it is widely accepted that the price of fossil fuel is expected to go up and up simply, which is behind major states taking a bold and speedy action in a bid to put the global economy on a solid ground, and probably this space will be an all but boundless and last resort to count on for everlasting flourishing.

    As with well-structured public option, sustainable option is holding down the runaway price of fossil fuel down the line by joining force throughout the world as the world economy is tightly interconnected just like Internet.

    In brief, it will be noteworthy that we are living in a time Ecology & Economy, and Public Health & Financial Health are inseparable. Taking the issue of world-wide overpopulation under control, the world has sufficient technology to live in peace for good.

    For the record, Indian EV maker Reva said it has also set about addressing anxieties about e-car range on the basis of this technology. This fantastic remote electricity/ “instant remote recharge” is already available, it’s nothing of the future.

    Here is a demo of wireless electricity on TED. Please search http://blog.ted.com/2009/08/wireless_electr.php for an available technology, in conjunction with http://www.inhabitat.com/2009/09/01/japan-plans-21-billion-solar-space-post-to-power-294000-homes/.

  • HSR0601

    If the findings of CBO over the cost of “Inaction” had been released at the beginning of conversation about health care, surely Ted Kennedy could’ve seen his lifetime wish come through, saving enormous time, energy and money nation-wide.

    ((Some of CBO analysis : While the costs of the financial bailouts and economic stimulus bills are staggering, they are only a fraction of the coming costs from Social Security, Medicare, and Medicaid. Over the next decade, the Congressional Budget Office (CBO) projects that each year Medicaid will expand by 7 percent, Medicare by 6 percent, and Social Security by 5 percent. These programs face a 75-year shortfall of $43 trillion–60 times greater than the gross cost of the $700 billion TARP financial bailout)).

    And supposedly the same is of conversation over the highly-anticipated energy independence. Nowadays, the world-wide overpopulation growing consistently is using up tremendous fossil fuel at an alarming pace as the own conventional resources in some dense countries is facing drastic dent.

    For that reason, it is widely accepted that the price of fossil fuel is expected to go up and up simply, which is behind major states taking a bold and speedy action in a bid to put the global economy on a solid ground, and probably this space will be an all but boundless and last resort to count on for everlasting flourishing.

    As with well-structured public option, sustainable option is holding down the runaway price of fossil fuel down the line by joining force throughout the world as the world economy is tightly interconnected just like Internet.

    In brief, it will be noteworthy that we are living in a time Ecology & Economy, and Public Health & Financial Health are inseparable. Taking the issue of world-wide overpopulation under control, the world has sufficient technology to live in peace for good.

    For the record, Indian EV maker Reva said it has also set about addressing anxieties about e-car range on the basis of this technology. This fantastic remote electricity/ “instant remote recharge” is already available, it’s nothing of the future.

    Here is a demo of wireless electricity on TED. Please search http://blog.ted.com/2009/08/wireless_electr.php for an available technology, in conjunction with http://www.inhabitat.com/2009/09/01/japan-plans-21-billion-solar-space-post-to-power-294000-homes/.

  • http://www.pestaroo.com Mike Williamson

    Where governments can’t act, biz needs to step up. Yeh!

  • http://www.pestaroo.com Mike Williamson

    Where governments can’t act, biz needs to step up. Yeh!

  • http://www.pestaroo.com Mike Williamson

    Where governments can’t act, biz needs to step up. Yeh!

  • Ms. Logic

    Really? Think about it. They only advocate strong environmental policy, because they will gain Trillions from it. This has nothing to do w/the environment and will not affect climate change. However, it will make Trillions for for these companies. I bet GE and Goldman Sachs are among these companies. Where is the list of the companies who want this agreement?

  • Ms. Logic

    Really? Think about it. They only advocate strong environmental policy, because they will gain Trillions from it. This has nothing to do w/the environment and will not affect climate change. However, it will make Trillions for for these companies. I bet GE and Goldman Sachs are among these companies. Where is the list of the companies who want this agreement?

  • Ms. Logic

    Really? Think about it. They only advocate strong environmental policy, because they will gain Trillions from it. This has nothing to do w/the environment and will not affect climate change. However, it will make Trillions for for these companies. I bet GE and Goldman Sachs are among these companies. Where is the list of the companies who want this agreement?

  • Mr. Sinister

    And when the governments of the world propose to take away a hefty chunk of that $13 trillion in assets to pay for this “strong and binding” agreement, I wonder if these investors will be singing a different tune? Oh wait, I forgot … the rich man is always too busy dancing while the poor man pays the band.

  • Mr. Sinister

    And when the governments of the world propose to take away a hefty chunk of that $13 trillion in assets to pay for this “strong and binding” agreement, I wonder if these investors will be singing a different tune? Oh wait, I forgot … the rich man is always too busy dancing while the poor man pays the band.

  • Ben

    Love it! governments seem to listen to big business more than their own people. Glad big business is finally on our side.

  • Ben

    Love it! governments seem to listen to big business more than their own people. Glad big business is finally on our side.

  • Ben

    Love it! governments seem to listen to big business more than their own people. Glad big business is finally on our side.

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