Investors call on G20 nations to ratify Paris Agreement swiftly and expand low carbon & green investment
Posted: August 26, 2016
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As leaders of the world’s largest economies prepare to attend the upcoming G20 meeting in Hangzhou, China, 130 investors (with over $13 Trillion AUM) from a coalition of six organisations have written to the G20 heads of state urging them to ratify the Paris Climate Agreement this year and call on G20 nations to double global investment in clean energy, tighten up climate disclosure mandates, develop carbon pricing and phase out fossil fuel subsidies.
Speaking about the letter, Stephanie Pfeifer, CEO of the Institutional Investors Group on Climate Change (IIGCC) said: “The Paris Agreement provides a clear signal to investors that the transition to the low-carbon, clean energy economy is inevitable and already underway. Governments must ratify the Paris agreement swiftly and have a responsibility to implement policies that drive better disclosure of climate risk, curb fossil fuel subsidies and put in place strong pricing signals sufficient to catalyse the significant private sector investment in low carbon solutions required to realise the agreement’s goals.“