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 30 August 2008 05:04 BST

'Climate-friendly' investors needed

Tuesday, 09 Oct 2007 14:03
Investors 'need to consider a company's green credentials'

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Investors must encourage companies to become more environmentally-friendly, climate change minister Joan Ruddock said today.

She told a Carbon Disclosure Project (CDP) launch in London that investors hold the ability to make a change by shunning companies which do not attempt to reduce their carbon output.

The government has set an aim of reducing emissions of greenhouse gases by 23 to 25 per cent by 2010 and has encouraged all sectors of society to contribute.

Ms Ruddock said it is "imperative" that businesses work with the government to make choices that "reflect the importance of a low carbon economy".

"Investors have a particularly key role to play in this," she explained.

"They should give consideration to environmental and social credentials, sending out signals to the financial markets to say that carbon disclosure is vital and show companies that it will affect their investment decisions."

A CDP survey of FT500 companies found that 95 per cent of the study's participants reported climate change to be a commercial risk and have implemented an emissions reduction programme.

According to the Intergovernmental Panel on Climate Change, the Earth's temperature could rise by 4.5C unless action is taken to prevent global warming.
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