The world’s largest global investors issued a joint call for strong action from international policy makers to slow global warming. Meeting in New York one week in advance of a UN climate summit, a coalition 181 investors — managing more than $13,000,000,000,000 in assets — believe that a strong and binding international treaty is vital to combating climate change and catalyzing the massive global investments needed to transition to a low-carbon world.

“We must chart a new course toward long-term, sustainable business practices,” said New York State Comptroller Thomas P. DiNapoli, head of the $116.5 billion New York State Common Retirement Fund. “We cannot drag our feet on the issue of global climate change. I am deeply concerned about the investor risks climate change presents, and the human cost of inaction is unthinkable. As investors in the global economy, we can lead the way toward a future of lasting prosperity.”

“Unmitigated climate change poses a threat to the global economy,” said Lord Nicholas Stern, Chair of the Grantham Research Institute on Climate Change at the London School of Economics and Special Advisor to the Group Chairman of HSBC. “But building a low carbon economy creates opportunities for investment in new technologies that promise to transform our society in the same way as the introduction of electricity or railways did in the past.” (Source: PR Newswire, September 16, 2009)

Contact: Press Office, New York State Comptroller, (518) 474-4015, press@osc.state.ny.us, www.osc.state.ny.us; Lord Nicholas Stern, IG Patel Chair, Director, Grantham Research Institute on Climate Change and the Environment, London School of Economics, +44 (0) 20 7955-7871; n.stern@lse.ac.uk, www.lse.ac.uk, www.lse.ac.uk/collections/granthamInstitute; Mindy Lubber, President, Ceres, (617) 247-0700, lubber@ceres.org, www.ceres.org