Putting your money where your carbon is
We wanted to leave you with a bit of good news on climate change for the long weekend during which we’ll all undoubtably be ruminating on the role great leaders and governments. Because our top dogs in command have done so very little to address carbon emissions, we are now witnessing the business sector and states fight back.
- Collectively they’ve agreed to invest $10 billion in the coming two years into clean technology.
- Reduce energy use in buildings by 20 percent in the next three years.
- Require their clients—investment managers, consultants and advisors—to report on how they are tracking the impacts of climate change on their investments.
- Pressure Wall Street analysts, investment banks, and rating agenciesto incorporate the price of carbon emissions (guessing it will be $20-40 per metric ton) into their cost estimates.
- Pressure the SEC to require all public companies to disclose their carbon emissions.
- Pressure Congress to pass meaningful climate change legislation that reduces emissions to 60-90 percent below 1990 levels by 2050.
These folks include California State Treasurer Bill Lockyer, Florida’s Chief Financial Officer Alex Sink, and the whip smart and fashion savvy Connecticut State Treasurer Denise Nappier. A full list of signatories and their plans is here.
Now, if they’d just double all those dollar numbers, we’d really be in business.
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