UK launches investor forum to spur green finance
Reuter’s reporter Nina Chestney reports the launch of the Capital Markets Climate Initiative (CMCI) where policy makers and investment banks such as Deutsche Bank and Morgan Stanley will meet to discuss obstacles to cleaner energy.
The CMCI aims to help meet the $100 billion (65 billion pounds) of new investment needed per year by 2020 to tackle climate change in developing countries, the department of energy and climate change said.
"We want the City of London, with its unique expertise in innovative financial products, to lead the world and become the global hub for green growth finance," Climate Change minister Greg Barker said in a statement.
The London Stock Exchange is already home to more than 100 clean technology firms and London is the hub of European emissions trading.
The International Energy Agency estimates that the total investment required by 2030 to reduce emissions by 50 percent by 2050 is around $1 trillion per year.
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