Investors urge governments to go green for coronavirus recovery

Major investors, Australian superannuation funds and the International Energy Agency are urging governments to seize the green opportunity to drive economic growth after the coronavirus pandemic and avoid the risks they see in high carbon emitting projects.

Investors are urging governments to invest in renewable
energy and low-emissions industries to drive economic
growth after the coronavirus pandemic.

"Recovery plans that exacerbate climate change would expose investors and national economies to escalating financial, health and social risks in the coming years," said a statement from the Investor Agenda group - an international coalition of institutional investors and asset managers whose members hold more than US$80 trillion under management.

Large-scale energy generators such as coal and gas fired power plants and their heavy duty transmission networks, as well as gas powered manufacturing facilities, are built to deliver a return on investment over decades.

Investors argue international commitments to tackle climate change and reduce emissions such as the Paris Agreement create an unacceptable risk for long-term investment in emissions intensive projects.

Read the story from The Age by Mike Foley - “Investors urge governments to go green for coronavirus recovery.”