Investors urge government to tackle climate change – for business' sake

Mon, 2007-03-26 10:53Bill Miller
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Investors urge government to tackle climate change – for business' sake

Revenue from clean-energy companies worldwide increased nearly 39% to $55.4 billion last year, according to a report by Clean Edge, a technology research firm in California. By 2016, the collective revenue of such companies could reach $226.5 billion.

Among the 65 companies that comprised the coalition were Allianz AG in Munich, Germany, the California Public Employees Retirement System in Sacramento, Domini Social Investments LLC in New York, F&C Asset Management PLC in London, Merrill Lynch & Co. Inc. in New York, The Calvert Group Ltd. in Bethesda, Md. and Walden Asset Management in Boston.

The coalition called for three specific steps from government : A market-based national policy that will achieve a 60% to 90% long-term decrease of greenhouse gas emissions; realignment of national incentives to stimulate new clean technologies; and clarification of company disclosure requirements from the SEC.

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A U.S. District Court judge ruled on June 27 that the Bureau of Land Management (BLM) and Forest Service both wrongly approved expansion of the West Elk coal mine in Somerset, Colo., because they failed to take into account the economic impacts greenhouse gas emissions from the mining would have.
 
The federal agencies said it was impossible to quantify such impacts, but the court pointed out a tool is...
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