Friday, October 21, 2011
2:36 p.m.
On October 19th, 285 of the world’s largest investors urged many of the governments around the world, as well as international legislators, to press legally enforceable steps through at the upcoming UN climate summit. The summit is to take place in Durban, South Africa, from the 28th of November to the 9th of December. The combined assets of the 285 investors in question are worth more than $20 trillion, which is money that they believe would be better spent investing in green technology. They had a lengthy set of requests, most of which could be best summed up in the sentiment that they want to speed up the development of green technology by allowing for lasting financial incentives to exist for those “low carbon assets.” They also believe that the most expedient way to accomplish this is through international legislation, with a development of a “Green Climate Fund” as well as accelerated efforts to reduce the emissions from deforestation. One of the most binding requests from the group of investors was the request for a definitive timetable on which these objectives would be accomplished, complete with short, medium, and long-term goals, with legally enforceable targets.
This is a major step forward for the worldwide climate change movement. Never before has a group inquired within the UN about climate change with this much money behind it. We all know that money has a large influence on politics, and I believe that it will be interesting to see what comes out of this summit when we go in with this set of “rules” given by some of the most wealthy people in the world. Perhaps we can finally find alternatives to the fossil fuels that we’re so dependent on. Even if we can’t, we should be able to see an infrastructure laid out so that we can see and gauge the movement toward more sustainable methods of energy production, as well as more strict limits on deforestation.
http://www.ens-newswire.com/ens/oct2011/2011-10-19-01.html
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