Russ Steele
This caught my attention, since two of the players have been entrusted with the retirement funds for City, County and Fire District employees. If you are in CalPERS and CalSTRS do you want your retirement funds at risk in the carbon credit market? The European carbon credit trading market crashed, with huge losses for investors.
Investors Managing $4 Trillion Call on Congress to Tackle Global Climate Change
Investor/Business Coalition Touts Competitive Benefits of Strong Federal Legislation; Includes Call for 60-90 Percent Greenhouse Gas Reductions
WASHINGTON DC – For the first time, dozens of institutional investors managing $4 trillion in assets today called on US lawmakers to enact strong federal legislation to curb the pollution causing global climate change. Joined by a dozen leading US companies, the investor group outlined the business and economic rationale for climate action as they called for a national policy that reduces greenhouse gas emissions consistent with targets scientists say are needed to avoid the dangerous impacts of global warming.
The group, organized by Ceres and the Investor Network on Climate Risk, issued a Climate Call to Action at a press conference today in Washington DC. The 65 signers include institutional investors and asset managers such as Merrill Lynch, and the California Public Employees Retirement System (CalPERS), as well as leading corporations such as BP America, Allianz, PG&E, DuPont, Alcoa, Sun Microsystems and National Grid.In endorsing the statement, investors and companies sent a strong message that climate policy uncertainty and the lack of federal regulations may be undermining their long-term competitiveness because it is preventing them from investing in clean energy and climate-friendly technologies and practices.
ooo
“The lack of a national climate policy is hindering the business community’s ability to respond,” said Jack Ehnes, chief executive officer of the California State Teachers Retirement System (CalSTRS). “In addition to providing a clear regulatory roadmap, Congress needs to realign energy and transportation policies to stimulate new technologies that will enable us to achieve dramatic greenhouse gas reductions.”
You can find the full list of potential carbon traders here. Are you are up for the risk? Really?
