US Sustainable Investment Association Calls On US Government to Demonstrate Leadership in Climate Crisis and Set Price for Carbon
WASHINGTON- The leader of a sustainable investment association representing hundreds of US institutional investors, with more than $1 trillion in assets under management, called on the US government today to show leadership in addressing the world's climate crisis by setting a price on carbon.
Lisa Woll, the CEO of US SIF: The Forum for Sustainable and Responsible Investment, said,
This week, thousands of investors, business representatives and other members of civil society—including US SIF and many of its members—are calling on the world's leaders to advance the policies needed to curb runaway climate change. They are raising their voices both within the United Nations headquarters at the global Climate Summit organized by UN Secretary-General Ban-Ki Moon, and outside in marches and rallies. The goal is to build momentum for the international Conference of Parties, in late 2015 in Paris, that is to forge an agreement to bind the world's nations to a universal agreement on climate.
The stakes are high. The world has a rapidly narrowing window of opportunity to prevent the rise of global temperatures—from the buildup of greenhouse gases in our atmosphere since the Industrial Revolution—from exceeding 2 degrees Celsius (3.6 degrees Fahrenheit). Rising global temperatures are threatening water supplies, agricultural production, biodiversity and human health and property.
It is critical, therefore, to invest in the technologies for the transition to a low-carbon economy. Sustainable and responsible investors are helping to show the way forward. US SIF members have:
· invested in “green bonds” to finance clean energy projects, water infrastructure and climate change adaptation,
· financed the installation of photovoltaic panels and energy efficiency systems in affordable housing,
· persuaded numerous portfolio companies through shareholder advocacy and engagement to monitor and work to reduce their greenhouse gas emissions, and
· provided financing to alternative energy and clean technology companies.
These actions can and must be done on a much larger scale. National governments and multilateral organizations must create the framework to enable the additional trillions of dollars in investments needed in low-carbon technologies and climate change adaptation. We urge the US government to demonstrate leadership by supporting multilateral efforts to impose a meaningful price on carbon and to stop subsidizing carbon pollution. With these policy signals, investors can fully rise to the challenge of building the low-carbon future.
US SIF: The Forum for Sustainable and Responsible Investment is the US membership association for professionals, firms, institutions and organizations engaged in sustainable and responsible investing. US SIF and its members advance investment practices that consider environmental, social and corporate governance criteria to generate long-term competitive financial returns and positive societal impact. US SIF's members include investment management and advisory firms, mutual fund companies, research firms, financial planners and advisors, broker-dealers, banks, credit unions, community development organizations, non-profit associations, and pension funds, foundations and other asset owners. Learn more at www.ussif.org.
Contact: Megan Smith, firstname.lastname@example.org, 202-747-7820