"Investors Call for Climate Change Deal"

"Institutional investors managing £15tn of assets have called for an ambitious global climate deal to give them certainty to invest in clean technology.

More than 340 institutions including BlackRock, the world’s largest asset manager, AXA Group and Legal & General Investment Management, have called for strong policies to drive action on climate change.

The organisations want governments to put a “stable, reliable and economically meaningful” price that polluters have to pay for their carbon emissions, which will help scale up investment towards clean power and energy efficiency.

Ahead of a UN climate summit in New York next week, the investors are also calling on governments to phase out subsidies for fossil fuels, an estimated £370bn worldwide a year, five times the £60bn paid in renewables subsidies."

The UK Press Association had the story September 18, 2014.