And where is the Doughtard on this? Oh right, he’s busy meeting with a Russian Foreign Minister.
631 institutional investors managing more than $37 trillion in assets urged governments to step up efforts to tackle the global climate crisis in a statement issued on Monday at the United Nations Climate Conference (COP25).
The Global Investor Statement to Governments on Climate Change, developed by the seven founding partners of The Investor Agenda, urges governments to phase out thermal coal power, put a meaningful price on carbon pollution, end subsidies for fossil fuels and update and strengthen nationally-determined contributions to meet the goals of the Paris Agreement.
“The global shift to clean energy is underway, but much more needs to be done by governments to accelerate the low carbon transition and to improve the resilience of our economy, society and the financial system to climate risks,” the investors wrote. They warned the current government commitments leave an “ambition gap” that will not prevent global average temperature from rising beyond the 1.5 degree threshold that scientists warn could trigger catastrophic and irreversible effects of climate change. Read on.