For too long, the world has relied on directionless governments and the unreliable promises of corporate social responsibility and shareholder activism to manage the environment and natural capital and deliver the investment needed to avoid climate change. It hasn’t worked.
More than $US16 trillion ($21.9 trillion) worldwide is now sitting in government bonds yielding negative real returns. Meanwhile, the world needs at least $US35 trillion of sustainable investment to avoid the consequences of a 1.5 degree increase in global temperatures that the UN Intergovernmental Panel on Climate Change warns is now imminent.
Loading...
Adam Triggs is director of research of the Asian Bureau of Economic Research at the Crawford School of Public Policy, The Australian National University, and a non-resident fellow in the Global Economy and Development program, Brookings Institution. Connect with Adam on Twitter.
