Investors urge government to tackle climate change – for business' sake

Mon, 2007-03-26 10:53Bill Miller
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Investors urge government to tackle climate change – for business' sake

Revenue from clean-energy companies worldwide increased nearly 39% to $55.4 billion last year, according to a report by Clean Edge, a technology research firm in California. By 2016, the collective revenue of such companies could reach $226.5 billion.

Among the 65 companies that comprised the coalition were Allianz AG in Munich, Germany, the California Public Employees Retirement System in Sacramento, Domini Social Investments LLC in New York, F&C Asset Management PLC in London, Merrill Lynch & Co. Inc. in New York, The Calvert Group Ltd. in Bethesda, Md. and Walden Asset Management in Boston.

The coalition called for three specific steps from government : A market-based national policy that will achieve a 60% to 90% long-term decrease of greenhouse gas emissions; realignment of national incentives to stimulate new clean technologies; and clarification of company disclosure requirements from the SEC.

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oil change international, subsidies, oil gas exploration

Rich G20 nations are spending about $88 billion (USD) each year to find new coal, oil and gas reserves even though most reserves can never be developed if the world is to avoid catastrophic climate change, according to a new report.

Generous government subsidies are actually propping up fossil fuel exploration which would otherwise be deemed uneconomic, states the report, “...

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