US Investors Turn to Renewables

US institutional investment groups have pledged to invest US$10bn in green technologies to reduce greenhouse gas emissions.

The investors announced their decision at a UN summit on climate risk this week and also agreed to put pressure on companies to disclose their risks associated with climate change, writes Reuters.

The Investor Network on Climate Risk says it wants to put a "dent in global warming pollution, build profits and benefit the global economy", while US pensions fund the California Public Employees' Retirement System has also agreed to invest in green technologies like solar and wind power.

The US is the only major industrialised nation not to have ratified the Kyoto Protocol on reducing greenhouse gas emissions by an average of five percent from 1990 levels by 2012.

By staff writer