Wall Street eyes heart of darkness: global warming

[Barrett808]

Wall Street eyes heart of darkness: global warming
By Peter Bohan
Wed Dec 13, 8:11 AM ET

CHICAGO (Reuters) - The topic of the conference was climate change and the rhetoric was sobering, haunted by scientific projections of a roasted world for our children and a looming environmental disaster of Biblical proportions.

But this was no talk shop of environmental activists. It was a meeting of Wall Street investors, insurance executives, state treasurers and pension fund managers, who between them manage about $3.7 trillion in assets.

"The insurance industry has historically taken on social issues. I know of no social issue that is bigger than this one," said Tim Wagner, director of insurance for the state of Nebraska.

The consensus of Wagner and others addressing the conference of the Investor Network on Climate Risk (INCR) was that institutional investors are still too near-sighted to factor climate change into their investment decisions.

(more)

http://news.yahoo.com/s/nm/20061213/lf_nm/climate_investors_dc_1

[SpiralHawk]

1. D'oh - a bit slow on the uptake

Stick your head out the window once in a while guys, and get a frikkin clue.

[villager]

2. Surely Jim Inhofe will start railing against these "corporate commies"

now?

[Joanne98]

3. This is a good laugh....

"The insurance industry has historically taken on social issues. I know of no social issue that is bigger than this one," said Tim Wagner, director of insurance for the state of Nebraska.

The insurance companies will work on ways NOT TO PAY claim holders.

[annabanana]

4. Limiting their "exposure" is their #1 job...

I figure you'll still be able to get insurance in Saskatchewan.

[kineneb]

5. alies in unlikely places

Yes, the insurance industry wants to "limit its exposure".
But...

If given the correct nudge, they will take the lead on global climate change, because they have the most to loose.
Think about it. :evilgrin:

[Telly Savalas]

6. It's things like this which make the flat-earthers' denial of climate change

seem especially outlandish.

About the only people who don't accept the existence of climate change are right-wing extremists in the U.S. government and their TV pundit buddies.