Investing in a Healthier Climate
ssir.org | Published 09 September 2015
By Dario Abramskiehn
Hockey great Wayne Gretzky once said, “I skate to where the puck is going to be, not where it has been.”
The same holds true for investing. Those who invest today in the assets that set the world up for a low-carbon, climate resilient future will be the winners of tomorrow.
Last week, California’s legislature passed a bill that will require the two largest pension funds in the United States—CalPERS and CalSTRS, which together manage $476 billion in assets—to divest from coal. Representatives in support of the bill cited both the declining value of coal stock and the need to take action on climate change as reasons to divest.
California’s move is the latest in a slew of recent victories for the divestment movement, which also includes Stanford University, the Church of England, Rockefeller Brothers Fund, and Norway’s $890 billion sovereign wealth fund.
The movement’s success has amplified ongoing…“read more>”: http://ssir.org/articles/entry/investing_in_a_healthier_climate?utm_source=Enews&utm_medium=Email&utm_campaign=SSIR_Now&utm_content=Read_More#sthash.OQEURRX4.dpuf