News

UNEP FI and Others Call for Strong Climate Change Policies

summit_logo14 January 2010:  The Investor Summit on Climate Risk, under the theme "Developing a Low-Carbon Economy: Leveraging Private Investment," took place on 14 January 2010, at UN Headquarters in New York, US, and brought together 450 global investors. At the conclusion of the Summit, four groups representing more than 190 investors, namely the Investor Network on Climate Risk (INCR), the Institutional Investors Group on Climate Change (IIGCC), the Investor Group on Climate Change (IGCC) and the UN Environment Programme Finance Initiative (UNEP FI), endorsed the Investor Statement on Catalyzing Investment in a Low-Carbon Economy. In the Statement, the investors call for the adoption of strong climate change policies to scale up investments in building a new low-carbon economy. The Statement highlights that policymakers made only incremental progress at the UN Climate Change Conference in Copenhagen, and that much remains to be done to address the risks that climate change presents to the global economy and to investments. Investors urge policymakers to negotiate and conclude a legally binding agreement with ambitious greenhouse gas emission reduction targets in 2010, and outline various measures to develop and transition to low-carbon technologies, including the adoption of: short- and long-term emission reduction targets; policies that put an effective price on carbon; energy and transportation policies to accelerate deployment of energy efficiency, renewable energy, green buildings, clean vehicles and fuels, and low-carbon transportation infrastructure; financing mechanisms that can mobilize private-sector investment on a large scale; measures and financing to support adaptation in developing and developed countries; and policies requiring corporate disclosure to investors of material climate-related risks and programmes to manage those risks. [UNEP Press Release] [Summit Website] [The Statement] [Press Conference Held After the Summit]