Will we be asked to pay the cost of stranded oil assets in the climate change process?
It has been an interesting six weeks on the issue of climate finance. The most recent prophetic announcement was around the UN Secretary General’s Climate Summit. It is becoming clearer daily that climate change WILL pose a risk to the value of present investments. There were 350global institutional investors representing around $24 trillion in assets calling for government leaders across the globe to put a price on carbon, to help redirect investment on the scale required to combat climate change. Rockefeller Brothers Fund (RBF) disinvestment from fossil fuels For those who did not read the finance pages, The Rockefeller Brothers Fund, a charitable foundation set up in 1940, has been working from 2010 to align its endowment investments to be consistent with the foundations Sustainable Development program goal s. RBF announced in September: “Given the RBF’s deep commitment to combating climate change, the Fund is now committing to a two-step process to address ...