Stephanie Pfeifer, CEO of the Institutional Investors Group on Climate Change (a forum representing128 big investors across 9 EU countries with over €13Trn AUM) has reacted to the historic ratification of the Paris Climate Agreement. With the following statements
“Institutional investors across Europe are delighted the Paris Climate Agreement has now crossed the threshold required to gain the full force of international law before COP22 in Marrakech and so far ahead of all expectations.
Policy makers must ensure climate action is now placed front and centre of immediate and long term efforts to secure strong, sustainable, inclusive growth.
“Investors now urge all signatories – and especially the G20 – to follow through with swift action to implement this agreement which signals so clearly that the transition to a low-carbon global economy is underway and must accelerate rapidly.
“Policy makers must ensure climate action is now placed front and centre of immediate and long term efforts to secure strong, sustainable, inclusive growth in a world where we stabilise greenhouse gas concentrations at levels that prevent dangerous climate change.
“As all recent temperature trends have highlighted there has never been a clearer or more urgent need for robust collective action to secure the low carbon transition and prevent catastrophic global warming.”