Quick and courageous action is needed when it comes to climate protection. A group of investors is now making an urgent appeal to the governments of all countries.
CARBIS BAY (DPA) – A group of global investors has called on governments around the world to take more vigorous steps in climate protection.
Ahead of the prosperous industrialized nations (G7) summit in England’s Carbys Bay on Friday, 457 investors published an appeal to all countries to expand their national plans for climate protection to actually limit global warming to 1.5 degrees to be achieved is the goal of the Paris Agreement.
“In this global crisis, investors and governments each have a responsibility to act quickly and boldly,” says the open letter to investors, who represent approximately US$41 trillion in fixed assets worldwide. They complain that their ability to mobilize the trillions needed to move toward climate neutrality is being hampered by the gap between what governments have done to date and what they are actually doing to protect the environment. .
The implementation of the Paris Climate Agreement creates significant opportunities for investment in clean technology, green infrastructure and other products and services that are needed. Energetic policies to reduce global warming to below 1.5 degrees could accelerate and increase the flow of private capital, the letter said.
Countries that set ambitious goals are likely to become attractive targets for investment in their view, while others are likely to lose out, write investors. Ahead of the United Nations Climate Conference in Glasgow, Scotland, in November, participating countries must strengthen their national plans.
The goals should also be implemented politically in individual countries. For example, subsidies for fossil fuels have to be stopped. Power generation along with coal should also be ended with a clear time frame. Public investment in carbon-intensive new infrastructure should be avoided.
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