PensionDanmark A/S, the retirement fund that’s invested about $1.8 billion in renewable energy, may consider developing country projects for the first time as the United Nations-linked Green Climate Fund opens today.
About $8 trillion of known coal reserves lie beneath the earth’s surface. The companies planning to mine and burn them are being targeted by a growing group of investors concerned with the greenhouse gases that will be made.
The U.K. joined a U.S. commitment to minimize funding of foreign coal-fired power stations as they seek to curb use of a fuel that spews twice the levels of greenhouse emissions as burning natural gas.
The coal industry needs to change rapidly to help prevent global warming by leaving most of the fuel in the ground and closing the least efficient power plants, the top climate official at the United Nations said.
The plight of the Philippines took center stage as United Nations climate talks got under way today in Warsaw while the Asian nation counted the cost of one of the most powerful cyclones ever recorded.