FT: Industry players slow to act on climate issues

Climate change is of course one of the biggest issues of our generation. Trillions of dollars of capital will need to go towards changing the way we consume energy --through energy efficiency and the development of renewable energy. Yet all kinds of investors, especially major institutions, are doing little to take their money out of the old economy of fossil fuels that causes climate change and invest it into the future. Many of them aren't even thinking about how to do this. This piece in the Financial Times (free login may be required) describes:
Many people in the asset management industry are convinced that climate change is caused by human actions, but few are actually managing money in line with that belief.

A new initiative from Australia, the Asset Owners Disclosure Project, has so far failed to gather support for its suggestion that asset owners such as pension funds and endowments should be transparent on what they are doing about climate change.

Read the whole article on the FT website.


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