Global institutional investors representing assets of US$13 trillion (AU$ 15.3 trillion), today called for a global target for emissions reductions of 50-85 per cent by 2050 as part of the final criteria required for a post-2012 climate change agreement. The joint statement, undersigned by 181 institutions from developed and developing countries under the auspices of four leading investment groups - the US-based Investor Network on Climate Risk (INCR), the European Institutional Investors Group on Climate Change (IIGCC), the Investor Group on Climate Change (IGCC) in Australia and New Zealand) and UNEP FI - formalises the private sector’s requirement for a strong, binding framework to succeed the Kyoto Protocol.

The call came as a coalition of environmental and development charities and campaign groups demanded more action from the government.

"Lack of agreement to effectively deliver public finance from developed countries to the developing world to fund greenhouse gas reductions and adaptation to unavoidable and immediate climate change impacts is the major impediment to securing the necessary global consensus at Copenhagen to avoid runaway climate change," the groups said in a statement released today.

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