LONDON (Reuters) - Global investors managing $32 trillion in assets have called on governments to accelerate steps to combat climate change, as policymakers meet for talks at a United Nations conference in Poland.
FILE PHOTO: Smoke and steam billows from Belchatow Power Station, Europe's largest coal-fired power plant operated by PGE Group, near Belchatow, Poland November 28, 2018.
A total of 415 investors from across the world including UBS Asset Management and Aberdeen Standard Investments signed the 2018 Global Investor Statement to Governments on Climate Change demanding urgent action.
The intervention is the single largest on the topic to date, the Institutional Investors Group on Climate Change said, as talks continue in the Polish city of Katowice to agree how to slow global warming to below 2 degrees Celsius.
“This is a recipe for disaster as the impacts of climate change can be sudden, severe and catastrophic.”.
“Global efforts to address the very real threat climate risk presents to the economy, financial markets and investment returns are ongoing... (we) remain committed to supporting the Paris Agreement’s climate goals.
“The transition to a low carbon economy presents numerous opportunities to create value and investors who ignore the changing world do so at their own peril,” said DiNapoli, whose fund manages $207 billion in assets. »