OneWorld.net (U.S.)

Transitioning to a low-carbon economy will not only help to combat climate change, but also promises to bring huge returns for investors, Secretary-General Ban Ki-moon told global business leaders.

“You are here today because you recognise climate change as an opportunity as well as a threat,” Mr. Ban told the large gathering at UN Headquarters in New York which brought together 450 participants, who together control $10-15 trillion in investment capital.

“You understand that the shift to a low-carbon economy opens new revenue streams and creates new markets,” he said.

He urged the investors to lead efforts to finance the technological innovation necessary for a shift to a green economy.

“The carbon market makes good business sense – it has doubled in size to $60 billion in the past year alone – and it makes good moral sense,” the Secretary-General, who has made climate change one of his top priorities since taking office last January, said at a dinner held 13 February.

The Investor Summit on Climate Risk, which was organised by the UN Fund for International Partnerships (UNFIP), the UN Foundation (UN Foundation) and Ceres, a network of investors and public interest groups that promotes green issues, aimed to provide a high-level forum for investment leaders to discuss the scale and urgency of climate change risks.

Attendees included leading institutional investors, financial services firms and United States state treasurers.

Source: UN News