“Today’s action sends a powerful signal to the markets that the shift to a low-carbon, clean energy economy is now accelerating. The rest of the world’s countries should take notice.
“While it’s critical to have the world’s two largest economies moving together, we’re still a far cry from moving in lock step globally. We must find ways to ratchet up global investments in clean energy by an additional $1 trillion a year to achieve the Paris accord’s goal of limiting global temperature rise to well below two degrees. Global investment in clean energy today are tracking at $300-$350 billion a year, which is far short of the Clean Trillion we need every year.
“In advance of the upcoming G20 Summit, Ceres joined with 130 global investors in calling on G20 leaders to join/ratify the Paris Agreement this year, boost clean energy investment, require stronger climate risk disclosure, put a price on carbon pollution, and phase out fossil fuel subsidies.” (Full text of global investor letter is available here.)
Ceres is a US-based nonprofit sustainability group mobilizing the world’s largest investors and companies to take stronger action on climate change, water scarcity and other global sustainability challenges. Ceres directs the Investor Network on Climate Risk, a network of 120 institutional investors with collective assets totaling more than $14 trillion.
The full and original article can be viewed on Ceres.org
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