NBIM joins call for a global climate agreement
Norges Bank Investment Management (NBIM) joins the world’s investment community for a renewed call for a global climate agreement in the run-up to the COP 15 meeting in Copenhagen.
Building on last year’s effort where investors representing $6 trillion detailed their needs and wishes in order to propel the world economy into a low carbon path and avoid the worst effects of climate change, NBIM has joined a renewed call to highlight the need for investors to get long term policy signals and predictability regarding climate change mitigation. This second investor statement is now backed by investors representing $13 trillion and among a number of issues includes a focus on the need to revise the current Clean Development Mechanism “to ensure real, permanent and verifiable emission reductions.”
“As we have stated continually, the global portfolios managed by NBIM are exposed to the economic effects of climate change. Like other diversified investors NBIM is therefore interested in efficient mitigation and adaptation to climate change. This can only be done by authorities setting the proper framework. The timing of this statement is important and NBIM and the financial community is sending a strong signal to the upcoming negotiations in Copenhagen,” says Anne Kvam (photo), Head of Corporate Governance at NBIM.