Big Investors Call On U.S. Congress To Tackle Climate Issues

May 22, 2008

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More than 50 leading investors, including the nation’s largest public pension fund and the world’s largest listed hedge fund, have called on the U.S. Senate to enact strong federal legislation to curb the pollution causing global warming, according to Ceres.

The group, with a combined portfolio of $2.3 trillion, issued a letter to U.S. Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell, calling for a national climate policy to reduce U.S. greenhouse gas emissions by at least 60 to 90 percent below 1990 levels by 2050 — similar to proposed reductions under the Lieberman-Warner bill, which the Senate is expected to debate next month.

The investors, organized by Ceres and the Investor Network on Climate Risk, announced the letter at a climate change conference at the U.S. Chamber of Commerce in Washington. The 52 signers include institutional investors, asset managers, treasurers and controllers such as the California Public Employees’ Retirement System, Deutsche Asset Management, F&C Asset Management, the Man Group (the world’s largest hedge fund), and treasurers and controllers for California, Connecticut, Maryland, New York City, New York, North Carolina, Oregon, Pennsylvania, Rhode Island and Vermont (full list at the bottom of this page).

As you might expect, there are many of the same names we’ve read about before concerning shareholder resolutions.

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