Socially responsible investment
Broad coalition calls for climate change policy in the US
Some of the world’s largest institutional investors, have thrown their
weight behind a call for the US - sent to President George Bush and members of
Congress - to adopt a mandatory national policy for greenhouse gas reductions
across the economy.
They have joined a coalition of companies, US trade unions and public pension
funds established by Ceres and the
Investor Network on Climate Risk which is
calling for
action in the US not only to meet the ambitious long-term cuts scientists
say are needed to avert the worst impacts of climate change, but to allow
business and investors to make investments with a long-term planning horizon.
Those backing these proposals – including senior figures at
Allianz,
F&C Asset Management and
Merrill Lynch –
also want to see the government assist the private sector in taking up low
energy fuels and technology.
Furthermore, it is proposed that regulators like the
US Securities and Exchange Commission provide
better definitions of the material issues related to climate change and what
companies should disclose on this in their regular financial reporting.
Their joint statement concluded, “By aligning the rules, regulations, and
incentives, we can help make the clean energy transition a win-win for the
environment, the global economy, the American economy, businesses, and
investors”.
Links
Ceres
Investor Network on Climate Risk
Call to
Action
Allianz
F&C Asset Management
Merrill Lynch
US Securities and Exchange Commission
April, 2007 |
