The later companies switch to climate-friendly production, the more expensive it will be. Governments are doing too little to tackle the climate crisis – this criticism comes from many directions. Now, though, it's coming from a corner you might least expect: investment fund managers. Failures in climate protection aren't just a danger to humanity, but also to money parked in securities.
In a recently published report by the Unep Financial Initiative, a collaboration between the United Nations and the financial sector, 20 institutional investors are warning about the costs that companies and investors could face as a result of delayed climate protection measures. The authors put the figure at 1.2 trillion – that's 1,200 billion – US dollars: the additional amount that 30,000 companies in a hypothetical portfolio would need to spend if governments drag their feet on regulations to limit greenhouse gas emissions. - derstandard.at/2000103098005/Klimaschutz-Versaeumnisse-koennten-Wirtschaft-Billionen-kosten.
Read the full report at: <link https: derstandard.at klimaschutz-versaeumnisse-koennten-wirtschaft-billionen-kosten>derstandard.at
Why it's urgently necessary to swiftly introduce a CO2 tax and a comprehensive emissions trading system
There's broad scientific consensus that CO2 emissions need to be priced if climate change is to be limited. In principle, there are two instruments for making emissions more costly: an emissions trading system, as practised in the EU, and a CO2 tax.
At the political level, too, noticeable movement has recently become apparent. IMF chief Christine Lagarde recently advocated introducing a global CO2 tax to combat climate change: such a tax would need to amount to around 62 euros per tonne of CO2 emitted in order to meet the targets of the Paris Climate Agreement. In addition to its steering effect, it would also generate revenue for investment in decarbonisation and energy transition measures.
More on the guest commentary by Angela Köppl and Margit Schratzenstaller (WIFO) at <link https: diepresse.com home meinung gastkommentar gastkommentar_es-ist-hoechste-zeit-fuer-eine-klimakoalition>diepresse.com
