Investors call for action on global warming

[bemildred]

Source: Guardian.UK

More than 180 of the world's largest investors, with collective assets of $13tn, put their combined weight behind a passionate call for strong US and international action on global warming in New York today.

"We cannot drag our feet on the issue of global climate change," said Thomas DiNapoli, who heads the $116.5bn New York state pension fund. "I am deeply concerned about the investor risks climate change presents, and the human cost of inaction is unthinkable."

The summit drew together managers of the world's leading investment funds, including those from HSBC, Henderson, Schroders, Société Générale and Scottish Widows, and pensions funds from California public employees to the BBC and Church of England. It was aimed at overcoming entrenched opposition within the US and elsewhere to climate change legislation, by showcasing the scale of investor support for climate change action and the potential for mobilisation of private capital.

"For anybody who suggests that regulating carbon or acting on climate change is impractical, here is appropriate contradiction," said Mindy Lubber, the president of Ceres, the green investor network that helped organise the conference. However, she warned: "Investors are ready to put money into green tech, but they are not going to act until the government acts and makes clear that the right incentives are in the right place."

Read more: http://www.guardian.co.uk/business/2009/sep/16/investing-climate-change

[excess_3]

1. same old people, with their hand out, looking to tax the poor.

naturally, they won't lift a finger,
or spend a penny of their own money,
to build a zero emissions electric power plant.

(such a power plant doesn't have to be in the US, BTW)

[DissedByBush]

2. Translation:

We figured out a way to make a bunch of money off of global warming.

But we'll lose our shirts if the governments don't pass laws about it.

This isn't the first time people promoted government action in order to make money off of it.

[Psephos]

3. Sounds about right to me n/t

[Frank Booth]

4. If it actually moves the government to do something productive, frankly I don't care

who's making money off it.

[excess_3]

5. they want to make money off you

they want to benefit by putting burdens on others

.........................................................................
learn about Senator Lugar's carbon-offset scam
http://lugar.senate.gov/press/record.cfm?id=296502