Guest essay by Eric Worrall
The Institutional Investors Group on Climate Change, whose members control eighteen trillion dollars in assets, has urged the world’s governments to shovel more taxpayers’ money into their pockets.
Source: http://www.iigcc.org/files/publication-files/Briefing_Paper_for_G7__G20.pdf
The most interesting point is the demand for carbon pricing. From page 5;
2. Include carbon pricing in climate-energy action plans – Investors reiterate the need for governments to provide stable, reliable and economically meaningful carbon pricing that helps redirect investment commensurate with the scale of the climate change challenge. This will level the playing field for low carbon technologies and factor in the costs of GHG externalities. These mechanisms are most effective when supported by complementary mechanisms such as public procurement measures, regulations, energy targets, carbon performance and energy efficiency standards.
- To ensure that carbon pricing assumptions are as representative as possible of the true cost of carbon – and in alignment with the policy trajectory of G20 leaders now and into the future – investors urge governments to commit to include carbon pricing in their climate-energy action plans, if they have not already done so. In this regard, investors encourage G20…
