Big money calls for carbon price

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From the AFR:

The globe’s largest investment funds, worth a collective $20 trillion, have called on world governments to move urgently on climate change policy and provide a stable setting for green investment before a key United Nations summit next week.

The group of 300 investors, which includes Australia’s Investor Group on Climate Change as well as international giants BlackRock, the California Public Employees’ Retirement System (CalPERS) and Deutsche Asset & Wealth Management, also called for stable and “economically meaningful” carbon pricing.

Wrong country fellas.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.