Investers worth $trillions demand carbon price, investmentment in clean energy

Christine Milne's speech to the National Press Club the other day, she said that things are moving fast now. Looks like she's absolutely right.

Now, ahead of the emergency climate summit in New York (the one Abbott isn't bothering to turn up to) investors worth bazillions have made a joint statement, calling for a price on carbon and investment in Green energy:

Just two months after Australia’s Abbott government achieved the dubious honour of becoming the first in the world to abolish a national carbon pricing scheme, more than 350 global institutional investors representing around $24 trillion in assets have called on government leaders across the globe to put a price on carbon, to help redirect investment on the scale required to combat climate change. 

In a statement published on Thursday in New York, a message drafted through a collaboration of six investor groups warns that while the global finance sector is starting to take action on climate change, stronger government action is needed to accelerate the low carbon transition. 

“Gaps, weaknesses and delays in climate change and clean energy policies will increase the risks to our investments as a result of the physical impacts of climate change, and will increase the likelihood that more radical policy measures will be required to reduce greenhouse gas emissions,” says the statement. 

“Stronger political leadership and more ambitious policies are needed in order for us to scale up our investments.” 

The statement – which will be presented, along with a report, to the UN climate summit in New York next week – also calls on world leaders to forge an ambitious global climate deal, as well as develop plans to phase out subsidies for fossil fuels. more

The Abbott gov is truly now looking like fossil fools.