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15 Feb 2008 05:02:29

UN says low-carbon economy 'may be good for investors'

UN says low-carbon economy 'may be good for investors'
UN secretary-general Ban Ki-moon said that making the transition to a low-carbon economy will combat climate change and may also present an investment opportunity.

"The shift to a low-carbon economy opens new revenue streams and creates new markets," Mr Ban told a gathering of 450 business leaders at UN headquarters in New York City.

He added that the carbon market "makes good business sense … and it makes good moral sense."

Mr Ban was speaking at the Investor Summit on Climate Risk, which was attended by representatives from financial services firms, US state treasurers and leading institutional investors.

Attendees, such as Alex Sink, chief financial officer for the state of Florida, said he is determined to tackle the issue of climate change, calling the state "at-risk". Meanwhile, the treasurer of California claimed the best way for businesses to combat climate change was to be "clean, green and sustainable".

Recently, California announced it would undertake a feasibility study to investigate creating a carbon-neutral high-speed railway in the state, similar to the TGV network in France.ADNFCR-1235-ID-18470674-ADNFCR

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