Investors coalition call on US Senate to tackle climate change

The group of 52 investors – organised by Ceres and the Investor Network on Climate Risk – issued a letter to senate majority leader Harry Reid and senate minority leader Mitch McConnell ahead of the debate on the Lieberman-Warner climate bill early next month.

They called for the US to implement a national climate policy to reduce US greenhouse gas emissions by 60pc to 90pc below 1990 levels by 2050.

F&C Investments chief executive Alain Grisay said: "Business and investors have a very important role to play in tackling climate change but the problems won’t get solved by market forces alone.

"It is crucial that governments and regulators set clear long-term rules and standards to create a level playing field, allowing business to shift capital on the scale that is needed to move towards a low carbon economy."

Ceres president Mindy Lubber added: "Investors hate uncertainty, and that’s the problem they face today.

"Strong and decisive action from Washington will open the floodgates on large-scale clean technology investments, enabling investors and businesses to lead instead of lag on climate change solutions."

The investor letter also calls on senate leaders to press US regulatory bodies – specifically, the Securities and Exchange Commission (SEC) – to issue specific guidance on what companies should disclose to investors on risks they face from climate change.