International Investors Unite to Address Climate Change

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Some of the world’s biggest financial players gathered in New York on Wednesday to urge bold global action on climate change. The gathering was the largest of its kind in the history of the climate debate. The International Investor Forum on Climate Change brought together 181 investors who manage a whopping $13 trillion in assets. To put that in context, the Gross World Product is around $69 trillion.

A statement released by the group urged global leaders to craft a “strong” climate change agreement in Copenhagen, including a global target for emissions reductions of 50 to 85 percent by 2050. “Global emissions of greenhouse gases must be cut significantly in order to avoid dangerous climate change with catastrophic economic and social consequences,” the statement said. “Beyond the potential macroeconomic impacts, investors are concerned about the ways in which climate change and climate policy will affect their investments in individual companies and assets.”

The meeting was, in effect, a powerful rebuke to the politicized U.S. Chamber of Commerce, which has tried to portray domestic climate legislation as anti-business but is led by an executive with ties to the coal industry. The investment groups signing yesterday’s statement included Blackrock, HSBC Global Asset Management, and the ING Group–clearly members of the business mainstream. The group also pointed out that tackling climate change will create new investment opportunities in “low-carbon infrastructure or energy efficiency” and “climate friendly products and services.”

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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