Investors Concerned about Climate Change

Two dozen U.S. and European institutional investors managing more than $3.2 trillion have joined with the United Nations in calling on U.S. companies, Wall Street firms, and the Securities and Exchange Commission to analyze and disclose the financial risks posed by climate change. The investors also pledged to invest $1 billion in clean technologies over the next year. The Call for Action was spurred in part by an acknowledgment from the world’s biggest reinsurance companies that 2004 set a new record for insured losses due to natural catastrophes—estimated at $44 billion. For more information, go to www.unfoundation.org and search for “Call for Action.”