Investors voice carbon emission concerns

With just weeks to go till the crucial Copenhagen negotiations on climate change, attempts inject fresh momentum into a global deal during UN meetings in New York are in danger of disappointing despite business speaking with an increasingly common voice.

Vicki Bakhshi, Associate Director of Governance & Sustainable Investment at F&C and former researcher on the Stern Review, said "Business and investors have made their views very clear. Investors responsible for some $13 trillion of assets called for a clear policy framework that will commit to a shift towards a low carbon economy. This will enable them to unlock billions of investment to support new technologies. Over 600 companies have also signed a statement highlighting how clear and consistent policy will drive innovation and opportunity to make a low-carbon global economy achievable. F&C was active in the development and promotion of both statements with our CEO personally writing to 360 companies, 60 of whom have put their name to the Copenhagen Communiqué."

The big news of the week on climate change has been China signalling that it is prepared to take a tougher stance on emission reductions. China had already set out ambitious policies for a major scaling up of clean energy and for improving energy efficiency. Now they are willing to take on short-term targets for economy-wide carbon intensity, thought have not set out specific numbers.

"The Chinese position marks an important shift but overall, levels of commitment from governments still fall short of what is needed. The clock is ticking and everyone is waiting for everyone else to make a move. A breakthrough is needed," said Bakhshi.