Investors to governments: Build back better, or deal with escalating climate risks

A wind energy farm. Governments, companies and intergovernmental organisations around the world have called for stronger support for renewable energy to be included in recovery packages. Image: WDG Photo via Shutterstock A coalition of seven global investor groups that promote responsible finance has issued a statement urging governments to draft coronavirus stimulus plans aimed at building green economies, warning a return to planet-heating business-as-usual would expose countries and investors to escalating risks from climate change. Released on Tuesday (5 May), the statement says a sustainable economic recovery from the outbreak must not only protect communities from the virus’ impacts and its economic fallout, but also uphold the Paris climate deal by integrating measures that spur the transition towards zero emissions. The coalition, which includes the Asia Investor Group on Climate Change, Principles for Responsible Investment and the United Nations Environment Programme Finance Initiative, says it is critical that governments work with investors, companies and workers to develop recovery plans that prioritise sustainability and equity, create better jobs and catalyse responsible deployment of private capital. In the absence of adequate measures, financial, health and social risks from global heating that face investors and economies could escalate in the coming years, […]

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