UNFCCC Executive Secretary Christiana Figueres has called on investors to redirect their investment portfolios towards low-carbon assets, such as assets built on renewable energy and energy efficiency, in order to contribute to achieving a low-carbon economy.
15 January 2014: UNFCCC Executive Secretary Christiana Figueres has called on investors to redirect their investment portfolios towards low-carbon assets, such as assets built on renewable energy and energy efficiency, in order to contribute to achieving a low-carbon economy.
Figueres was speaking at the 2014 Investor Summit on Climate Risk, which took place in New York, US, on 15 January 2014. The Summit, which was co-hosted by Ceres, the UN Foundation and the UN Office for Partnerships, provided a platform for global financial leaders to address climate and energy challenges.
In her statement, Figueres highlighted that investment decisions should be based on scientific evidence, underlining that institutional investors who ignore the risks posed by climate change are in breach of their fiduciary duty to their clients. She pointed out that many governments are making and implementing policies that devalue high-carbon assets and benefit low-carbon assets, and stressed that investors need to adapt to this, in order not to lose out.
Figueres further called for greater transparency and disclosure of companies’ carbon footprints. [UNFCCC Press Release] [UN Press Release] [Summit Website]