Sunday, April 17, 2016

To Curb Climate Change, "We Need to Move Everything" - Investors

Labourers rest as a boy playfully shovels coal at a yard in the western Indian city of Ahmedabad November 20, 2014. (Credit: Reuters/Amit Dave) Click to Enlarge.
Meeting the goals of a new global agreement to tackle climate change will require social change on an almost unprecedented scale, sustainable investment experts said on Thursday.

That includes shifting trillions of dollars each year into renewable energy - up from $345 billion last year - and making everything from transport to agriculture and consumer products much greener very quickly.

"This is about scale.  It is about timing.  It is about scope.  We cannot move 500 companies and 200 investors in a few countries.  We need to move everything," said Mindy Lubber, president of Ceres, a U.S.-based business sustainability group.

Failure to make big shifts fast would amount to putting our children and grandchildren in the path of a speeding bus, she told the Skoll World Forum on Social Entrepreneurship in Oxford.

"We would each throw ourselves in front of a bus if it was coming at our child, regardless of our politics," she said.  "We have got to change this debate so people understand... climate change is that bus."

Coal'S Days Numbered?
Some of that transformation is already underway, said David Blood, a senior partner at Generation Investment Management.  Much of the clean energy technology needed is already available, and a surging divestment campaign is persuading investors that keeping money in fossil fuel companies is a growing financial risk.

But while experts predicted the U.S. coal industry is on its way out of business, large-scale investment in coal - one of the biggest drivers of climate change - is still happening in parts of Africa and South Asia, particularly India.

Reversing that by ensuring India and other countries have access to clean technology should be a priority for efforts to hold climate change to manageable levels, they said.

"It's in the interests of the whole world that India gets (to clean energy) faster," said Mary Robinson, a former Irish president who runs a climate justice foundation.

Read more at To Curb Climate Change, "We Need to Move Everything" - Investors

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