Investment Fund CEOs Call for Long-Term Greenhouse Gas Cuts

Some of the world's biggest investment funds urged the Group of Seven industrialized nations on Tuesday to commit to a long-term goal to cut world greenhouse gas emissions as part of a U.N. climate deal due to be agreed in December.

Cuts in emissions would give investors more certainty, promote research and development and new technologies, and help create jobs, fund chiefs said.

"We believe climate change is one of the biggest systemic risks we face," the fund managers, who oversee more than $12 trillion in assets, said in an open letter to G7 finance ministers.  The letter was signed by 120 CEOs of investment funds, including Henderson Global Investors, Schroders and pension plans for French civil servants and Ontario teachers.

"The benefits of addressing climate change outweigh the costs," they said.

The letter was sent ahead of a meeting of G7 finance ministers in Dresden, Germany, on Wednesday.  Last week top European companies also urged governments to set a goal for slashing greenhouse emissions, saying that going green can bring profits rather than costs.

Read more at Investment Fund CEOs Call for Long-Term Greenhouse Gas Cuts