Rich nations must make pandemic recovery plans green: global investors - Reuters
https://www.reuters.com/...ns-must-make-pandemic-recovery-plans-green-global-investors-idUSKBN22G08Y
The groups said private capital would play a key role in the recovery, but investors needed long-term policies to be put in place that reflected the agreed move to a low-carbon economy.
“Recovery plans that exacerbate climate change would expose investors and national economies to escalating financial, health and social risks in the coming years,” they said in a statement said on Monday.
“Governments should avoid the prioritisation of risky, short-term emissions-intensive projects,” added the groups, which include the Institutional Investor Group on Climate Change, members of which include BlackRock (BLK.N).
Also signing the statement, under the collective group known as the Investor Agenda, were the United Nations-backed Principles for Responsible Investment, Ceres, CDP, Investor Group on Climate Change, Asia Investor Group on Climate Change and the UNEP Finance Initiative.
The statement follows similar calls for a green recovery in recent days from International Monetary Fund Managing Director Kristalina Georgieva and German Chancellor Angela Merkel, among others
Recovery money would be best spent on creating jobs and sustainable infrastructure that helped meet the goal of net zero carbon emissions across sectors including energy, industrials, building and transport, they said