World’s leading institutional investors managing $24 trillion call for carbon pricing, ambitious global climate deal
Ahead of the UN Secretary-General Ban Ki-moon’s Climate Summit at the United Nations to spur climate action and facilitate a global climate agreement in 2015, nearly 350 global institutional investors representing over $24 trillion in assets have called on government leaders to provide stable, reliable and economically meaningful carbon pricing that helps redirect investment commensurate with the scale of the climate change challenge, as well as develop plans to phase out subsidies for fossil fuels.
More information at: http://investorsonclimatechange.org/
In related news….
Photo: Anneli L. Tostar
In a public statement to Nicholas D. Kristof (Harvard ’81) this week, Harvard’s President continued to reject the demands of the Harvard Divest campaign of students, faculty and alumni. With the largest endowment of any private university in the country, Harvard has refused to take a public stance to divest its endowment funds from the fossil fuel industries. If the University President refuses to consider this issue at this point, perhaps Harvard’s senior financial officers may want to consider the related news in this domain which is now being widely discussed internationally:
- BBC News – Rockefellers to switch investments to ‘clean energy’ + Newshour Report from 22 September 23, 2014
- Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels | Divest Harvard September 22, 2014
- Heirs of Billionaire Oil Tycoon John D. Rockefeller Join Growing Fossil Fuel Divestment Movement | Divest Harvard, September 22, 2014
Harvard has refused to be a leader in these matters, but perhaps it can learn to be a gracious follower.