Pension Funds: Asset Managers and Fuel Subsidies

pension funds: The investors include some of the world's biggest pension funds, insurers and asset managers and marks the largest such intervention to date, according to The Guardian. They say fossil fuel subsidies must end and substantial taxes on carbon be introduced. Without these, the world faces a financial crash several times worse than the 2008 crisis, they said. Brutal news' global carbon emissions jump to all-time high in 2018Read more Ministers arrive at the UN climate summit in Katowice, Poland, on Monday for its crucial second week, when the negotiations on turning the vision of the Paris agreement into reality reach a critical point, with finance for fighting global warming a key area of dispute. This is a recipe for disaster as the impacts of climate change can be sudden, severe and catastrophic. The long-term nature of the challenge has, in our view, met a zombie-like response by many, said Chris Newton, of IFM Investors which manages 80bn and is one of the 415 groups that has signed the Global Investor Statement. (news.financializer.com). As reported in the news.