7 July 2008
City must apply levers of finance to ameliorate climate change,
Lord Mayor warns Mansion House investment conference
David Lewis, Lord Mayor of the City of London, will tell a
conference at Mansion House on Thursday (10 July) that financial
tools of the market form a major tool for tackling climate change -
and business needs to seize the growing opportunities for
investment.
The Lord Mayor David Lewis and Stuart Fraser, Chairman of Policy
and Resources of the City of London Corporation are hosting the
conference on Thursday 10 July, with a keynote speech by exchequer
Secretary to HM Treasury Angela Eagle MP.
The Lord Mayor of the City of London, David Lewis says:
“Although we can’t set a value on our home planet, it is possible
to price many of the key components to its future survival.
“Looked at baldly, the Earth’s biosphere, ecology and natural
treasures are part of its infrastructure, and business using the
mechanisms of the market – can play a key role in the next 50 key
years in making sure that irreplaceable resources are managed
sustainably.
“We can defeat the potential existential threat of climate
change – and help secure the wellbeing of all the Earth’s billions
of residents – by harnessing the power of financial services, a
sector uniquely placed to mediate between the needs of the present
and our responsibilities to the future.”
The Lord Mayor David Lewis, who in his global role as ambassador
for UK-based financial services spends three months a year (on
offset-carbon journeys) leading City delegations, will speak at a
Mansion House conference staged with the Carbon Markets Association
and Climate Change plc.
The carbon market in 2007 was worth twice as much as it was in
2006 and is expected to continue to grow. $22 trillion is due to be
invested globally in energy infrastructure by 2030 and businesses
are looking at ways channelling that money into low carbon
options.
Notes to editors
The Mansion House International Carbon Finance conference is
being held on Thursday 10 July. Speakers include the Lord Mayor
David Lewis and Chairman of Policy and Resources Stuart Fraser.
There will also be a keynote speech by exchequer Secretary to HM
Treasury Angela Eagle MP.
The programme will also welcome representatives and
contributions from the FSA, the UNFCCC, the OECD, Deutsche Bank,
Japan Bank for International Co-operation, Linklaters LLP, Merrill
Lynch and ICECAP.
Discussion at the conference will be centred on the effective
implementation of regulation and monitoring mechanisms for current
carbon trading systems and products. It will also address the
impact of new national schemes and products on the development of
the global trading picture.
The conference is supported by The Carbon Markets Association
& Climate Exchange PLC.
Press contact
For more details or interviews please contact: Susanna Howard
on:
020 7332 3450
Susanna.howard@cityoflondon.gov.uk