Today a significant group of world’s largest investors published a call for sustainability by addressing the need for a new dialogue on climate change policy in order to avert dangerous climate change and its resulting economic impacts. The letter is announced ahead of the Doha international climate negotiations starting on 26th November.
Letter from global investor networks to the governments of the world’s largest economies.
This letter has been prepared by organisations including the Institutional Investors Group on Climate Change (Europe), Investor Network on Climate Risk (North America), Investor Group on Climate Change (Australia & New Zealand), Asia Investor Group on Climate Change and the United Nations Environment Programme Finance Initiative, representing global institutional investors responsible for over $22.5 trillion in assets. The letter is also supported by the Principles for Responsible Investment Initiative.
Governments are key in reducing the serious risks, losses and damage that climate change will cause, and the risks to the investments and retirement savings of millions of people. While we commend governments that have implemented supportive policy, much further work is needed to decarbonise economies and portfolios and to stimulate private investment in low-carbon solutions.
Institutional investors have played an increasingly central role in financing low-carbon energy solutions, as both asset financiers and as equity investors in public companies.
We urge the world’s largest economies to enter into a new dialogue with investors – based upon the seven points set out in this letter – and hasten the transition to a low-carbon economy.”