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Tackle Climate or Face Financial Crash, Say World's Biggest Investors
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Global investors managing $32tn are urging governments to phase out all coal burning. Photograph: Alexander Koerner/Getty Images
UN summit urged to end all coal burning and introduce substantial taxes on emissions
theguardian.com - Damian Carrington - December 9, 2018
Global investors managing $32tn issued a stark warning to governments at the UN climate summit on Monday, demanding urgent cuts in carbon emissions and the phasing out of all coal burning. Without these, the world faces a financial crash several times worse than the 2008 crisis, they said.
The investors include some of the world’s biggest pension funds, insurers and asset managers and marks the largest such intervention to date. They say fossil fuel subsidies must end and substantial taxes on carbon be introduced.
(CLICK HERE - READ COMPLETE ARTICLE)
CLICK HERE - Global Investor Statement
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Investors managing $32 Tn in assets: action on climate change
reuters.com - by Simon Jessop - December 9, 2018
Global investors managing $32 trillion in assets have called on governments to accelerate steps to combat climate change, as policymakers meet for talks at a United Nations conference in Poland.
A total of 415 investors from across the world including UBS Asset Management and Aberdeen Standard Investments signed the 2018 Global Investor Statement to Governments on Climate Change demanding urgent action . . .
. . . Failure to act could lead to permanent economic damage three or four times the scale of the impact of the financial crisis, British asset manager Schroders said . . .
. . . “This is a recipe for disaster as the impacts of climate change can be sudden, severe and catastrophic.”
CLICK HERE - READ COMPLETE ARTICLE - Investors managing $32 trillion in assets call for action on climate change