More institutional investors and corporations are interested in integrating climate change into the investment process, according to a Goldman Sachs report released today. The growing interest was no more evident than at the Investor Summit on Climate Risk held in February at the United Nations in New York, according to the report by Michael A. Moran, vice president-portfolio strategist, Abby Joseph Cohen, managing director-portfolio strategist and chair of the investment policy committee, and Michelle A. Kim, analyst. Investors representing over $22 trillion in assets participated in the 2008 summit, while investors at the last summit in 2005 were responsible for $5 trillion in assets, the report said.
Investor participation at the summit provided ample evidence that consideration of climate change has taken an increasingly prominent role in the investment process for many organizations, the report said.
The report also noted that membership in shareholder group Investor Network on Climate Risk has grown this year to represent institutional investors with a combined $5 trillion in assets under management, up from a membership of institutional investors representing $600 million in 2003.