Green investors await better U.S. policy
TEXT OF STORY
Steve Chiotakis: Last month’s summit in Copenhagen failed to produce a climate change treaty, sure. But United Nations officials still hope countries will meet a deadline this Sunday to submit voluntary pledges to cut greenhouse gas emissions. Marketplace’s Sarah Gardner reports.
Sarah Gardner: U.N. officials don’t expect all participating countries to meet Sunday’s deadline. But the world’s major emitters — including China, the United States and Europe — are all expected to formally make pledges.
Former U.S. climate negotiator Nigel Purvis.
NIGEL PURVIS: I also expect that those countries will be putting forward what we’ve already heard from them.
Late yesterday the U.S. announced that it would do exactly that.
But Chris Fox at CERES, a coalition of environmentalists and investors, says investors are looking for much more. He says that will take a national cap on carbon dioxide and other global warming gases.
CHRIS FOX: There needs to be a price on carbon and investors are very concerned about countries such as the United States where there is policy uncertainty.
Fox says green investors are “geographically agnostic” and will put their money in countries where national policies support clean energy. Right now, he said, that’s strongest in China and Europe.
I’m Sarah Gardner for Marketplace.
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