International Investors Unite to Address Climate Change

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


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.”

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. It's our first time asking for an outpouring of support since screams of FAKE NEWS and so much of what Trump stood for made everything we do so visceral. Like most newsrooms, we face incredibly hard budget realities, and it's unnerving needing to raise big money when traffic is down.

So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate