Ban Ki-moon Insists Institutional Investors Address Climate Challenges
At a speech recited at the International Development Finance Club in Washington D.C., U.N. secretary-general Ban Ki-moon pitched to the international community the goal of US$ 100 billion per year for new climate finance commitments. The secretary-general sees climate change as a serious threat to sustainable development.
Ki-moon emphasized that all financial actors, even large institutional investors such as sovereign funds, must center on the issue of climate change and help the process of de-carbonizing the global economy.
Ban Ki-moon states, “Pension funds, insurance companies and sovereign wealth funds are already owners and creditors of large and predominantly high-carbon segments of the global economy. Yet only 1 per cent of pension fund assets were invested in infrastructure projects.”[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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