In a tremendous show of support for climate action, 259 investors with over $15 trillion in capital called on political leaders headed to Cancun at the end of this month as well as the incoming U.S. Congress that the time to take action on climate change is now.
Citing potential climate-related GDP losses of up to 20 percent by 2050 and the economic benefits of shifting to low-carbon and resource-efficient economies, investors released a major statement today calling for national and international policies that will spur private investment into low-carbon technologies.
The statement was signed by 259 investors from North America, Europe, Asia, Australia, Latin America and Africa with collective assets totaling more than $15 trillion—more than one-quarter of global capitalization. Signatories included Allianz, HSBC, APG and a dozen U.S. public pension funds and state treasurers. It is the largest-ever group of investors to call for government action on climate change.
The points these investors make are clear, it is financially sensible to tackle climate change sooner rather than later. We need strong climate action fast to avoid losing tons of money and suffering great financial hardships.
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