Do we need more than $20 trillion behind climate policy?

Climate Progress brought to my attention a letter published this morning by a group of 285 of the world’s top investors. They advocate for strong, long-term climate and clean energy policies:

Well designed and effectively implemented long-term climate change and clean energy policy (“investment-grade policies”) will … yield substantial economic benefits including creating new jobs and businesses, stimulating technological innovation, and providing a robust foundation for economic recovery and sustainable long-term economic growth.

These investors collectively represent over $20 trillion of assets. To put that number in perspective, recall that our world’s GDP (technically, the “GWP”) is $63 trillion, and the total value of the world’s financial assets is $212 trillion.

How much clearer can the call from businesses and investors be? We know that we need action eventually on halting global warming and reinventing our energy supply. We might as well unleash the waves of investment in new energy technologies now by providing a certain market for these services.

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