Investors clamour for 40% RE target

Climate commissioner Connie Hedegarard

Climate commissioner Connie Hedegarard

Europe must set an ambitious target to cut carbon emissions by 40% by 2030 or run the risk of slowing investment into much-needed energy infrastructure, warns a leading group of investors.

The Institutional Investors Group on Climate Change (IIGCC), which represents pension funds and asset managers, says the goal is critical if they’re to back the electricity system upgrades Europe needs.

With public finances strained, national governments in Europe need private investment for the task, claims the group, whose members include Aviva and BlackRock.

The European Union will on Wednesday publish a new 2030 framework for climate change and energy policies, marking the start of a long process to fix them into EU law.

The investors group, whose members manage assets worth €7.5tn ($10 trillion), is urging politicians to act ahead Log in to read complete article.

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